Donald Trump could have vowed to work with General Motors to try and save some U.S. jobs, instead today it looks like he is going to war with the automaker. This comes a day after GM announced it was shutting down production at plants in Ohio and Michigan and discontinuing some car models. This afternoon Trump reacted on Twitter:
….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
"I don't know that there's a specific timeline," Sarah Sanders says when asked about President Trump tweeting that he’s “looking at cutting all GM subsidies” over the auto maker’s plans to close plants https://t.co/dpK77YYg2B pic.twitter.com/tvkLVsfGvc
— World News Tonight (@ABCWorldNews) November 27, 2018
This came shortly after National Economic Council Director Larry Kudlow expressed his “disappointment” with the news from GM.
"It's a great disappointment obviously," Larry Kudlow says of the GM layoffs. He says the White House will be "looking into" certain electric car subsidies. pic.twitter.com/BTOnHXg4jd
— CNBC (@CNBC) November 27, 2018
While Trump’s threat may have been empty, it was enough to send investors into a panic.
President Donald Trump threatened to cut all subsidies to General Motors … and there goes the stock https://t.co/Q2VUvY4Taa pic.twitter.com/eF6QA9F3OO
— MarketWatch (@MarketWatch) November 27, 2018
As many news outlets are pointing out, Trump’s tough talk may be his way of dealing with something that will be viewed as a failure for his administration.
General Motors’ decision to cut jobs in Ohio is particularly embarrassing for President Trump, since he repeatedly promised to bring back manufacturing work to the Midwestern state. pic.twitter.com/omK8yoayLL
— HuffPost (@HuffPost) November 27, 2018