Trump ramps up GM threats

US President Donald Trump has escalated his attack on General Motors (GM) a day after the carmaker announced major job cuts.

Mr Trump wrote on Twitter that he was “very disappointed” and “looking at cutting all GM subsidies, including … for electric cars”.

It was not immediately clear what specific subsidies he had in mind.

GM’s decision to halt production at factories in the US and Canada has angered many politicians.

For Mr Trump in particular, the cuts are a blow, as he has made rebuilding the US auto industry one of his administration’s priorities.

“I am not happy about it,” he said yesterday.

The BBC has contacted GM for comment on the president’s remarks, and is waiting for a response.

Government assistance

General Motors benefits from a federal tax credit for electric vehicles, but the programme phases out after a manufacturer sells 200,000 cars.

GM is expected to hit that cap in the next few months.

The firm also received taxpayer assistance during the financial crisis and has been awarded federal grants worth hundreds of millions of dollars in recent years, according to a database maintained by Good Jobs First, a non-profit that tracks corporate subsidies.

That bailout has been cited by Mr Trump and leaders of labour unions, who have criticised GM’s planned cuts.

The firm on Monday announced plans to reduce its salaried workforce by 15% and shut eight factories around the world.

The restructuring follows a decline in auto sales and comes as the firm prepares for the next economic slump.

GM said it would phase out certain models of slower-selling cars, halting production at four factories in the US and one in Canada.

The move is likely to lead to the loss of more than 14,000 jobs in North America, including over 6,100 shift workers at the plants.