Donald Trump throws General Motors as & # 39; smallest car manufacturer & # 39; who is there and suggests that they move their activities back to America, even if the company says it would cost them billions
- Donald Trump threw General Motors as & # 39; one of the smallest automakers & # 39; and suggested that they move their activities back to the United States
- Such a move would cost GM billions in future profits, the company said
- & # 39; General Motors, once the giant of Detroit, is now one of the smallest automakers there, & # 39; tweeted Trump
- & # 39; Now they have to move back to America again? & # 39 ;, he added
- China has one of & # 39; the world's fastest growing vehicle markets
Donald Trump turned down General Motors on Friday as & # 39; one of the smallest automakers & # 39; and suggested that they move their activities back to the United States, although the company said it would cost them billions in future profits.
The president hit one of the largest car companies in America because he brought his activities to China.
& # 39; General Motors, once the giant of Detroit, is now one of the smallest automakers there. They moved large factories to China BEFORE I WERE IN THE OFFICE. This was done despite the help the US gave them to save. Now they should move back to America again, "he tweeted Friday morning.
Donald Trump threw General Motors as & # 39; one of the smallest automakers & # 39; and suggested that they move their activities back to the United States
A GM plant in Michigan; the company claims that withdrawing production from China would cost them billions
But bringing activities back to the US can cost the company in one of the fastest growing car markets in the world: China.
GM makes 43 percent of its annual sales in China, the Detroit Free Press reported, and it is China – not the US – that has a growing middle class that wants to buy vehicles.
& # 39; The biggest loss for GM, if it is forced to leave China, is the loss of all future growth potential & # 39 ;, said Jon Gabrielsen, a car market analyst. & # 39; Because they had already sold their European operations … GM would be essentially just a North American company. & # 39;
In his tweet, Trump seems to refer to one Bloomberg report that GM has fewer union-represented US employees than its domestic rivals for the first time since the United Auto Workers started organizing.
Fiat and Ford surpassed it.
GM was once the largest private employer in the US, but in recent years has sent much of its production to Mexico and China.
However, the company told Bloomberg that the $ 23 billion it invested in the US is nearly five times the amount it has spent in Mexico and its 16,000 employees in Mexico are about one-third the size of its US workforce.
General Motors earned fire from the president when it closed its factor in Lordstown, Ohio earlier this year.
Trump has insisted on a revival of the automotive industry and other manufacturing jobs as part of his campaign to win the Midwest, particularly industrial states such as Michigan, Ohio and Pennsylvania – who helped him win the White House in 2016.
A GM plant in Flint, Michigan – Trump has encouraged companies to take production back from China
Last week, the president said that American companies should leave China as he expanded his trade war with the Asian nation.
The US stock market closed more than 600 points that day.
And GM responded in a statement: & We support a positive trade relationship between the US and China and encourage both countries to pursue and pursue a sustainable trade policy. We continue to believe that both countries value a vibrant automotive industry and understand the interdependence between the two largest automotive markets in the world. & # 39;
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