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Trump Wants GM To Reimburse America For The Bailout?

Trump Wants GM To Reimburse America For The Bailout?

Mr Trump unleashed the comments on Twitter a day after GM announced it would close down five auto factories and slash 14,000 jobs in North America, with numerous job cuts coming from the Midwest, where the President has promised a rebirth of manufacturing.

The U.S. government lost $11.2 billion on its bailout of General Motors, according to a 2014 government report.

Trump called for the end of subsidies to GM and also blamed Brown for GM's decision.

Shares of GM rose 0.7 percent to $36.95.

Fiat Chrysler announced in January of this year that it would move production of certain trucks from Mexico to an existing plant in Warren, Michigan.

Elected Ohio officials are reaching out in different ways to soften General Motors' decision to cease operations at the Lordstown complex in March, including a U.S. Senate bill, a plea to another large automaker and a meeting with the vice president. Many of those cuts are coming from the Midwest, where he has promised a manufacturing rebirth.

TRUMP'S tweet: "General Motors is very counter to what other auto, and other companies are doing".

Trump, who is unhappy with GM's closing of American auto plants this week, retweeted the tweet without details.

Larry Kudlow, director of the National Economic Council, says both Trump and Prime Minister Justin Trudeau believe the deal was created to help the automotive industry and auto workers, not foster job cuts.

Commenting on the decision, GM said that it made the decision because of a decline in vehicle sales. "We've done this to help you and I think his disappointment is, it seems like they kind of turned their back on him". "That's OH, and you better get back in there soon'".

Border chief: Migrants who rushed border not seeking asylum
As the chaos unfolded, shoppers just yards away on the USA side streamed in and out of an outlet mall, which eventually closed. Scott also said agents only resorted to using tear gas to deter migrants after members began to pelt USA officials with rocks.

Well, here is President Trump's chance to help us.

Earlier this week, Trump said he told GM CEO Mary Barra that she should quit making cars in China and open a new plant in OH to replace the one in Lordstown, which is ending production, the Wall Street Journal reported.

GM has been lobbying Congress, along with Tesla Inc, to lift the current cap on electric vehicles eligible for tax credits, but any action by Congress before 2019 is a long shot, congressional aides said.

Dias said he would meet with the United Auto Workers on Wednesday and discuss the possibility of "mass actions" in GM plants across the two countries.

His comments on Wednesday mark the third straight day that Trump has responded to GM's announcement with a series of policy-related attacks.

Pointedly, GM added, "We appreciate the actions this administration has taken on behalf of [the] industry to improve the overall competitiveness of United States manufacturing".

He also claims to have admonished Barra in person, and said he told the CEO that she had "better" reopen plants in the United States soon. The factory will also make products geared to auto manufacturers and appliance makers.

The U.S. still is a manufacturing heavyweight, but companies increasingly are choosing automation over human labor. President Trump should not give up on getting GM to invest in Ohio.

GM did not blame the threat of tariffs for this week's plant closing announcement. He noted that he is very disappointed with General Motors and the company's CEO, Mary Barra, for their decision to close plants in the U.S. and not in Mexico or China. A number of different models have been manufactured at the plant, including the Chevy Caviler, Pontiac Sunfire and the current Chevy Cruze. "We're going to fill up those factories or rip them down and build new ones", he said.

The reductions could amount to as much as 8 per cent of GM's global workforce of 180,000 employees. In October, nearly 65 percent of new vehicles sold in the US were trucks or SUVs.