General Motors is already feeling the impact of President Donald Trump’s comments after the company announced they would cut thousands of American jobs.
The shares of the company’s stock fell after Trump threatened to end GM’s subsidies. Trump tweeted out his disapproval of the move, pointing out that the U.S. had bailed the country out of financial crisis in the past.
….for electric cars. General Motors made a big China bet years ago when they built plants there (and in Mexico) – don’t think that bet is going to pay off. I am here to protect America’s Workers!
— Donald J. Trump (@realDonaldTrump) November 27, 2018
According to The White House, Trump also spoke with GM CEO Mary Barra on Monday, warning her that she was “playing around with the wrong person.”
Five U.S. plants will close, affecting over 14,000 American jobs. According to Barra, this move is intended to make the company stronger in the future and to avoid layoffs if there is a recession.
— CBS News (@CBSNews) November 26, 2018
The president shared that he will begin putting pressure on the company to keep their business in the U.S. because of how much help they have given.
“I was very tough. I spoke with [GM CEO Mary Barra] when I heard they were closing, and I said, you know, this country’s done a lot for General Motors,” said Trump. “You better get back in there soon — that’s Ohio, and you’d better get back in there soon. So we have a lot of pressure on them. You have senators, you have a lot of other people, a lot of pressure.”
It is uncertain if this pressure will cause GM to reevaluate their new strategy.