Trump Slams GM, Says Should "Make Car In The US Or Pay Big Border Tax"

Tyler Durden's picture

Having previously spooked shareholders of Boeing and Lockheed, moments ago Trump started off his week by taking aim at none other than the company bailed out by Barack Obama in one of the most controversial bankruptcies in recent history, General Motors.

In a tweet, the President-elect said “General Motors is sending Mexican made model of Chevy Cruze to U.S. car dealers-tax free across border. Make in U.S.A.or pay big border tax!”, a warning which could be read as an effective ultimatum to move production back to the US or risk tariffs on foreign-made products.

Another potential problem for GM, as shown in the chart below, is that while GM has posted a substantial recovery since its bankruptcy following the financial crisis, the firm's number of jobs has barely budged, even as its biggest "Detroit" competitor has been on a hiring spree.

What makes Trump's criticism surprising, however, is that one month ago, Trump appointed GM CEO Mary Barro to his Strategic and Policy Forum, which as a reminder "is composed of some of America’s most highly respected and successful business leaders, will be called upon to meet with the President frequently to share their specific experience and knowledge as the President implements his plan to bring back jobs and Make America Great Again."

The obligatory Trump criticism following his tweet promptly emerged from the usual sources:

If Trump's tweet is sincere, Barra may be the first CEO who is "fired" from this particular advisory group.

For now, the market is skeptical about the long-term impact of Trump's tweet, and has pushed the stock lower by only 24 cent, about 0.7% down in premarket trading.

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VinceFostersGhost's picture

 

 

Pay back the bond holders while you're at it bitchez!

 

We're gonna so something called.......law and order.

1980XLS's picture

Just wait 'till Trump finds out the Buick Envision sold here is made in China.

Looney's picture

 

Screw Chevy Cruze! Have you driven a Zamboni lately?   ;-)

Looney

NoDebt's picture

Trump is such a wrecking ball, I can't help but enjoy the crap outta this.  One thing for sure- none of us is going to die of boredom the next 4-8 years.

 

JRobby's picture

Sheep will buy it anyway.

They better stock up on loaner cars at the Buick dealerships!

Snípéir_Ag_Obair's picture

GM to Trump: sure. just get rid of the unions first.

VinceFostersGhost's picture

 

 

There was a time when unions looked after their workers.

 

That was a long time ago.

thatthingcanfly's picture

And what time was that?

Unions have always been about the spread of cultural Marxism/Communism. Take a look at the Communist Party: USA website and see for yourself.

11b40's picture

Your ignorance is showing.

thatthingcanfly's picture

Wow, great argument. You win.

Sigh.

See for yourself, idiot.

http://www.cpusa.org/article/

11b40's picture

Sigh is right.  Let me guess.  You got a modern public school education.

"Unions have always been about the spread of cultural Marxism/Communism." is what you wrote.

Study a little history about working conditions prior to Unions.  You could start here.  American Railroad workers never even heard of Communism in 1893.

https://www.britannica.com/event/Pullman-Strike

Like most things, Unions can be used properly or improperly....just like our Constitutional Republic.  Just because it has been hijacked does not mean it is no longer a valid concept.

TemporarySecurity's picture

The majority of unions were started to keep some foreign minority from taking the jobs at lower pay rates.  If pay rates are locked in there is no reason to hire - the dirty ?????.

thatthingcanfly's picture

What is your source for that information? It reads like Union propaganda bullshit to me.

TemporarySecurity's picture

I am saying Unions were started because of racism and that sounds like union propaganda to you?

In general unions start up when some minority comes in from outside the region and are willing to do the work for a lower wage.  Here is just one article http://www.redstate.com/laborunionreport/2011/04/10/unions-racism-an-age....

 

What we were taught in school that unions were formed because of bad work conditions almost never happened, it was usually about the wages.

CheapBastard's picture

Incredibly, many union leaders endorsed Hitlery despite her vowing to put so many union workers out of work!

Coal miners defected and voted for The Trumpmeister. Some blue collar workers are wising up to the fact that Democrats do NOT support them.

People need to wake up and realize Donald Trump is NOT your typical Demobrat or Repugnican but has his OWN ideas, many of which sound and are very good for the middle class and blue collar workers of America.

curbjob's picture

... a Coca-Cola advertisement also makes their product look very good for the working class.

Mass_hysteria's picture
Mass_hysteria (not verified) Jan 3, 2017 8:00 AM

He need that money so he can invade Iran.

VinceFostersGhost's picture

 

 

Clearly you have him mixed up with Hillary.

 

We came......we saw......he died!

https://www.youtube.com/watch?v=mlz3-OzcExI

 

 

Mass_hysteria's picture
Mass_hysteria (not verified) VinceFostersGhost Jan 3, 2017 8:12 AM

Do you think itm atters if it's trump or hillary?

 

can you think further then your nose at least?

 

the hidden hand decides, trump is only another puppet, but the perception he created in our minds is that he is an outsider

VinceFostersGhost's picture

 

 

Do you think itm atters if it's trump or hillary?

 

You're almost there man....

King Tut's picture
King Tut (not verified) Mass_hysteria Jan 3, 2017 8:17 AM

Don't badmouth Orange Jesus to ZHers.

VinceFostersGhost's picture

 

 

When you finally get it......you're gonna be like........ohhhh fuk me!

sheikurbootie's picture

For the slow people in ZH class...king tut (this is you) 

The Community Organizer's, aka The Magical Negro, fanatic worship by mental retarded idiot liberals IS NOT to be confused with the proud support by American's for the BILLIONAIRE who CHOSE to help America in it's great time of need.

You just can't fix retarded liberals. 

Bill of Rights's picture

Must be a New Year all the retards are up early...

King Tut's picture
King Tut (not verified) Bill of Rights Jan 3, 2017 8:12 AM

So are you Hasabara trolls

Fathead Slim's picture
Fathead Slim (not verified) King Tut Jan 3, 2017 10:18 AM

Nice of you to out yourself, in case somebody didn't already know.

CheapBastard's picture

Obama organized a soros-funded internet troll squad who get paid $1 per comment to bash Trump and in general spread Fake News to assist The Establishment, Marxism and MIC evidently.

JRobby's picture

Appropriate posting name anyway 

Silky Johnson's picture

Russia China Iran, aka the carrot, the stick, and the bait. They're going for the long play and have all the doors covered. The Cheeto Jesus is being set up for the big fall.

thatthingcanfly's picture

I would love to see Trump take on the unions, whose counter-productive practice of pricing their members' labor out of the market led to the offshoring in the first place.

King Tut's picture
King Tut (not verified) thatthingcanfly Jan 3, 2017 8:15 AM

The few private union workers left are about all that are supporting the overpaid public union slugs

silverer's picture

He can. Because a lot of the union advantages and footholds came from executive orders.

Abaco's picture

Have you done the math to figure if blaming the union vs. blaming the government is more on target? It's a rhetorical question. 

thatthingcanfly's picture

Good, then I won't respond.

FreeShitter's picture

Chevy cruze could be made in a perfect scenario and still be a piece of shit

new game's picture

at 100k no different than cavalier...or was that the sunfire, lol.

take a corolla or civic, plez...

fucking junk

oh, they look plez'g...

silverer's picture

They'll have to hire Korean engineers. Of course, they'll live in the US and pay taxes. lol

canisdirus's picture

GM already has Korean engineers. They bought Daewoo and renamed it "GM Korea". It's where the Chevy Aveo, Spark, Sonic, and a good portion of the Cruze came from. GM produces cars wherever it is cost effective as their main target is profit (not cars - those are a byproduct of needing some product to sell).

two hoots's picture

Got a feeling Trump will let CEO's,  their companies, share/bond holders (et al) suffer the consequences of their decisions and not let them feed at the gov trough. Well, one can hope.

YHC-FTSE's picture

Shit, if I was still doing trades on the rigged markets, I could make a ton of money just acting on Trump's tweets.

(GM down 0.7% premarket after Trump tweet)

two hoots's picture

The money is made knowing what he will Tweet, like Fed speeches.   That needs a look before it gets nasty.  His tweets are okay, on the surface.

therover's picture

Why do you think he tweets so much ? He is indirectly making TONS of money every time he tweets. You don't think someone is frontrunning his tweets for him ?

"Hmmm...lets see. If I tweet this about Company A, the stock will take a hit for a bit. Short that bitch because he comes my tweet"

Alogs are gonna be working overtime for the next 4 years.

two hoots's picture

Yep, Just like frontrunning Federal Reserve Speeches.  Both are beyond impropriety.

tunetopper's picture

When the Volcker rule gets abolished congress will pass along their inside info with impunity to the banks. And there will be no ethics panel to object.

Ghordius's picture

John Harwood: "President-elect disputing the idea that what's good for GM is good for the country"

that's based on the good ol' "what is good for GM is good for the US"

now, in defense of president-elect Donald Trump...

... that was in the past. where GM was a different thing from today

care to list how different? it would be a very long list

chiquita's picture

Harwood should go back to "Better Living Through Chemistry".  That might serve him better these days.