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Old 27.11.2018, 21:02
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marton marton is offline
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Re: Will Trump be a Good President?

Quote:
Donald J. Trump@realDonaldTrump

Very disappointed with General Motors and their CEO, Mary Barra, for closing plants in Ohio, Michigan and Maryland. Nothing being closed in Mexico & China. The U.S. saved General Motors, and this is the THANKS we get!

We are now looking at cutting all @GM subsidies, including for electric cars.
General Motors made a big China bet years ago when they built plants there (and in Mexico) - don’t think that bet is going to pay off.
I am here to protect America’s Workers!
General Motors indeed made a big China bet years ago and it proved to be very successful. GM is the largest seller of foreign cars in China and sells many more per year in China than in US.

So it is highly unlikely that GM would even consider closing Chinese factories! Makes more commercial sense for them to expand in China and to cut down in US.

Cutting GM subsidies would need Congress approval which will be hard to get. It is not well known which GM subsidies other than for electric cars exist; for electric cars the subsidies only apply to the first 200K cars sold and GM is anyway only 4K sales short of this limit.

EDIT: Trump keeps claiming GM should be more grateful for their Govt. financial bailout that began in 2008 and not lay off people.
Actually most commentators are complaining that GM just got a huge Trump tax cut so should not behave like this; I assume Trump is avoiding mentioning his tax cut which in the GM case clearly failed to generate the US business investments and US job growth he promised!
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Last edited by marton; 27.11.2018 at 21:19.