LORDSTOWN FALLOUT | Brown talks GM in Trump call

LORDSTOWN FALLOUT | Brown talks GM in Trump call

The United States imposed a 25 percent tariff on imported light trucks in the 1960s after France and West Germany imposed tariffs on US chicken, so it was also called the "chicken tax," and was referred to by Trump in his tweet.

Addressing the current tensions between Washington and Beijing, US President Donald Trump defended his protectionist trade policies, urging companies to relocate facilities back to the United States and create more jobs for Americans.

Sen. Sherrod Brown (D-OH), during Thursday's broadcast of "New Day" on CNN, addressed President Donald Trump's critical comments of the senator in regards to General Motors closing its plant in Lordstown, OH. We are now looking at cutting all @GM subsidies, including for electric cars.

"GM is committed to maintaining a strong manufacturing presence in the US, as evidenced by our more than $22 billion investments in USA operations since 2009", the company said in a statement, referring to the year of its government-backed bankruptcy.

Trump's harsh words rattled investors, who bid down GM shares by 2.6 per cent on Tuesday after sending them up on Monday in response to the automaker's cost-cutting. He also suggested his administration will look into expanding that tariff to passenger cars to make sure more cars are built in the U.S.

GM has been lobbying Congress, along with Tesla Inc, to lift the current cap on electric vehicles eligible for tax credits, but any action by Congress before 2019 is a long shot, congressional aides said. But it did not go as far as the president, who said the vehicle company has "just announced a major new plant".

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"Even after taking huge tax breaks from Ohioans, General Motors Co. announced plans to shutter its Lordstown plant right in the middle of the holiday season". The President added that he believed GM would be "opening up something else" in the state of Ohio.

Beyond the subsidies given to customers, GM has received about $333.5 million in federal spending in the past 12 months, according to a US government website that tracks federal expenditures.

Democrats say they need as many names as possible, promising to deliver the petitions to GM executives.

And it said "many" of the workers impacted by the plant closures "will have the opportunity to shift to other GM plants", where it produces popular and top-selling trucks and SUVs.

GM has received about $333.5 million in federal spending in the past 12 months, according to a USA government website that tracks federal expenditures. Regardless of whether suppliers and OEMs continue to import steel from overseas or buy it domestically, they are paying more for steel to build their vehicle bodies.

Jerry Dias, president of the Canadian trade union UNIFOR, said Tuesday that GM's CEO had insulted the president of the United States and prime minister of Canada.

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