11/26/2018

AUTO INDUSTRY/TARIFFS/TRUMP AS PRESIDENT: “President Donald Trump said on Monday [11-26-18] that he is ‘not happy’ with General Motors and is putting pressure on the company to undo its plans to shutter North American plants and cut thousands of jobs. Trump said he spoke with GM CEO Mary Barra after the company on Monday announced plans to cut up to 14,000 jobs…Trump said his administration is putting ‘lot of pressure’ on GM to come up with alternatives to the cars that aren’t selling well, like the Chevrolet Cruze…GM on Monday said it would stop manufacturing several poorly selling vehicles like the Cruze and possibly close as many as five North American plants. The news has threatened to undercut Trump’s pledge to bring factory jobs back to the United States and has put a spotlight on the impact of the administration’s trade policies. GM previously said the administration’s tariffs on imported steel have cost the company $1 billion. The president’s comments came shortly before top White House economic adviser Larry Kudlow met with Barra on Monday afternoon. The meeting had been scheduled prior to GM’s announcement.”

Andrew Restuccia and Ben White, “Trump admonishes GM over U.S. job cuts: ‘You better get back in there soon’,” Politico, November 26, 2018 8:40 pm