Sunday , October 2 2022

Trump made a blow to GM's stock to prove a point before 2020


The alone refers to President Trump's threat to General Motors ("We are now looking at cutting all @ GM subsidies, including for electric cars") to send a signal to its supporters in the states that will be affected.

When Trump directed the car manufacturer on Twitter on Twitter, the GM share immediately decreased almost 4 percent, even though it crept back in subsequent hours.

GM said Monday that it dropped its officials by 15 percent and closed several factories in North America, including Ohio and Michigan, to prepare for future market changes.

Trump, who campaigned to a great extent for a promise to revive manufacturing jobs in the United States, won both states in the 2016 election.

CNN, who cited an above-mentioned person "familiar with the matter", reported that there can not even be any real government that lowers Trump to shut down.

But the threat was not so much a shot at getting GM to immediately reverse the course, as it was a throwback to Trump's campaign theme as American workers are being shaken.

"Very disappointed with General Motors and their CEO, Mary Barra, to shut down factories in Ohio, Michigan and Maryland," he said in his tweet. "Nothing closes in Mexico and China. The United States rescued General Motors, and this is thanks we get!"

GM did not know that it had changed, just said in a statement: "We appreciate the actions that this administration has taken on behalf of industry to improve the overall competitiveness of US manufacturing."

But the conflict reminds Trump supporters why they chose him, and that was the point.

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