President Trump Threatens To Pull Electric Car Subsidies Over Gm Plant Closures

Justin Sink and Ryan Beene / Bloomberg, Time: Business
Tue, 11/27/2018 - 12:46pm

(Bloomberg) — President Donald Trump said he may try to eliminate electric car subsidies for General Motors Co. after it announced it will close factories and lay off thousands of U.S. workers. GM fell as much as 2.9 percent and traded down 2.4 percent at $36.73 at 2:16 p.m. in New York. Trump has repeatedly expressed anger over GM’s plan to close five North American factories and since its chief executive Mary Barra announced the layoffs on Monday. “There’s great disappointment that it seems like GM would rather build its electric cars in China rather than the United States,” Larry Kudlow, director of the White House National Economic Council, told reporters at a briefing on Tuesday, just before Trump’s tweets.

Topics: bloomberg president donald trump general motors co york gm&rsquo north american ldquo;there’s states,&rdquo larry kudlow white house national economic council trump&rsquo ceo ohio michigan maryland u.s gm mexico america&rsquo workers chevrolet bolt tesla inc washington congress senate finance chairman orrin hatch utah republican senator dean heller nevada republican democrat jacky rosen trump general motors general motors gm trump mary barra china mexico donald j trump realdonaldtrump november tesla plant electric car subsidies cars credit announced close factories percent including cap bet eligible

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President Trump Threatens To Pull Electric Car Subsidies Over Gm Plant Closures

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