Home / Blue Chips / Trump Opens Cannons at General Motors (GM) after Boeing and Lockheed Martin

Trump Opens Cannons at General Motors (GM) after Boeing and Lockheed Martin

On Tuesday Donald Trump opened its cannons at General Motors Co. (NYSE:GM), stating that the firm should be taxed for different versions of the Chevrolet Cruze small car that it imports from Mexico to US dealers.

The Detroit auto manufacturer uses a plant in Lordstown, Ohio, to pull together most of the Cruzes it sells in the US. Various versions, consisting of a hatchback model, are brought to the U.S. from a facility in Ramos Arizpe, Mexico.

Through a tweet on Tuesday morning, Trump stated that General Motors is giving Mexican made model of Chevy Cruze to U S auto dealers-tax free through border. Manufacture r in USA or pay huge border tax! GM reps could not be approached for remarks. GM Chief Executive Mary Barra is a affiliate of Trump’s economic policy team predicted to meet regularly with the president-elect following he takes office. In the past Trump has also been a rep for GM’s Cadillac brand.

As we have learned from Boeing, and Lockheed Martin learned in the past, and today from GM, getting the limelight of President-elect Donald Trump is not essentially boosting news for a firm or its stock holders, almost in the short term.

On the trading floor, shares of General Motors Co. (NYSE:GM) plunged almost 1% following President-elect Donald Trump critiqued the car manufacturer in a tweet.

About Devon Leftovich

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