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Trump Rips into GM (GM) for Cutting U.S. Jobs

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(Updated - November 27, 2018 2:11 PM EST)

President Trump said on twitter he is very disappointed in General Motors (NYSE: GM) and its CEO Barra for closing U.S. plants.

In response, Trump said he is looking at cutting subsides to GM, including for EVs.

Shares of GM dropped to session low following the tweets, down 2.4%.

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....
— Donald J. Trump (@realDonaldTrump) November 27, 2018

....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!
— Donald J. Trump (@realDonaldTrump) November 27, 2018

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