General Motors says Trump’s tariffs could threaten US jobs and ‘undermine competitiveness’
S E E D E D C O N T E N T
General Motors said President Donald Trump’s proposed tariffs would
affect US jobs and growth ( Bill Pugliano/Getty Images )
General Motors has attacked President Donald Trump's proposed tariffs on foreign vehicles, saying they risked weakening the company's global competitiveness and would lead to job cuts at home and abroad.
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He's already been trying to get Harley to move some of its U.S. production out of the U.S. -- looks like his next target is General Motors!
No surprise that GM fired back. They have invested $22 billion in US factories since 2009...Wonder how much Trump companies have invested in US factories...
Seems that the other big US motorcycle manufacturer is considering moving some production to Europe...
The list will keep growing as more and more corporations begin to realize how Trump's tariffs will hurt them...and that they will have to move existing jobs (currently in the U.S.) to other countries now...
More:
The U.S. Chamber of Commerce came out strongly against Trump’s tariffs plan, saying that if it is carried out “it would deal a staggering blow to the very industry it purports to protect and risk igniting a global trade war.”
“In fact, the U.S. auto industry is prospering, and the vast majority of industry stakeholders do not support these proposed tariffs,” the Chamber said.
A bit of trivia about China and GM....
GM first entered the China market in the 1920's and had a dealership in Shanghai in the 20's.
The father of democracy in China, Sun Yatsen, the first premier, Zhou Enlai and the last emperor, Puyi all owned Buick's.
GM left the China market in 1949 and re-entered the China market in 1993.
Buick sells more cars in China then it does in the US.
I do not agree with Trump's tariff war; but:
Coming from an company that the US tax payers lost over 10 billion dollars bailing out; I will pass on any complaints they have.
GM, like Harley, had plans to continue to move production overseas in place a long time ago. Not because of US tariffs; but because of foreign tariffs on US goods. GM and Harley don't care about US workers, they care about the bottom line. The tariffs are just a BS excuse they are using to save their public image. Funny how no one blasted Obama when both were moving jobs overseas during his administration. Especially GM after the US taxpayer bailout. What were their excuses then?
Survival.
and as an employee and stockholder, then and now, I was not opposed.
Anything is a better return than zero.
they are one of the few things in our portfolio holding their value now, Ford and Chrysler Fiat being very close.
Everything else is in the negative ranges..........sad.
This is not a problem, Krishna.
As our local wingnuts' Replies demonstrate, they are fully prepared to suffer the consequences of Trump's trade war in order to win it. MAGA!!
A reminder: the trade war was launched to make the lives of Americans better ....