In another tweet targeting a U.S. company, President-elect Donald Trump is threatening to slap a tax on General Motors for importing compact cars to the U.S. from Mexico.
But GM makes the vast majority of compact Chevrolet Cruzes in Lordstown, Ohio, near Cleveland.
Trump tweeted early Tuesday that GM is sending Mexican-made Cruzes to the U.S. tax-free. He told GM to stop or pay a big border tax.
GM saw the tweet and is formulating a response.
Shares of GM fell 0.4 percent to $34.70 in premarket trading after the tweet.
Last year Trump threatened to tax Ford, which plans to shift production of the compact Focus to Mexico. Jobs at the U.S. factory that makes Focuses would be preserved because the plant would get a new pickup and SUV.
(AP)
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One Response
GM has previously said that most of the Cruz vehicles for the U.S. market are already assembled in its Lordstown, Ohio plant and the output of the Mexican plant is focused on Latin America and overseas exports. Perhaps someone should tell the Donald to either get his facts straight or get some new advisors who can read a 10-K where GM has already disclosed this information.