On Tuesday, President Trump threatens to pull all government subsidies from General Motors, in response to layoffs announced by the auto maker earlier this week.
Trump tweeted that he was “very disappointed” with GM’s announcement and said his administration was “looking at cutting all GM subsidies, including for electric cars”.
It’s not clear what, if any, federal subsidies GM is receiving. A $7500 tax credit on electric vehicles exists but goes to the car buyer, not the car maker.
On Monday, GM announced it would be closing several plants in Michigan, Maryland, and Ohio and laying off 14,000 employees.
Source: https://www.cnn.com/2018/11/27/business/gm-trump-subsidies/index.html
