GM to close factories in Michigan, Ohio, Canada


General Motors calls this a pre-emptive strike to get leaner before the next economic downturn. I said well get a vehicle that is selling well and put it back in.

GM sold almost 2.7 million vehicles in China through September, almost all of them built in China for the market.

General Motors Chairman and CEO Mary Barra speaks at GM's press conference at the North American International Auto Show in Detroit, Jan. 16, 2018.

Rivals Ford Motor Co and Fiat Chrysler Automobiles NV have both curtailed United States auto production.

This weekend, Trump will meet with Chinese President Xi Jinping on the sidelines of the G20 summit in Argentina. United States automakers have enjoyed almost a decade of prosperity since the 2008-2009 financial crisis and the government bailouts of GM and the former Chrysler Corp.

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Kudlow also made it plain that the agreement would be signed by representatives of all three countries later this week when G20 leaders gather in Buenos Aires for their annual meetings, something that's been in question as Canada and Mexico seek an end to their tariff standoff with the US over steel and aluminum.

The automaker said it was ending Chevrolet Volt production because the vehicle was meant to be a bridge to fully electric cars when it was introduced about a decade ago.

Trump has since boasted about a renaissance in the industry thanks to his tax cuts and the removal of environmental regulations put in place by his Democratic predecessor Barack Obama.

On Tuesday, Trump followed up and reminded the company of its debt to the American people and threatened to slash all subsidies.

In 2017 he said high-quality manufacturing jobs were no longer leaving Ohio. "They better put something else in", he said. The meeting had been scheduled in advance, the White House said. As Scott Lincicome, a trade attorney and senior fellow at the Cato Institute, pointed out on Twitter, that $1 billion could have paid for a years' salary for 24,000 assembly line workers (who make an average salary of $41,000). Barra said the industry is changing rapidly and moving toward electric propulsion, autonomous vehicles and ride-sharing, and GM must adjust.

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Democratic Sen. Sherrod Brown said the move will be disastrous for the region around Youngstown, Ohio, east of Cleveland, where GM is one of the area's few remaining industrial anchors.

Tax legislation unveiled by House Republicans Monday didn't include an extension of the electric-vehicle tax credit sought by the coalition that includes GM and Tesla. "We think it's appropriate to do it while company is strong and the economy is strong". The Trump administration has not yet ruled on the request.

The report warned climate change would cause massive damage to USA infrastructure and wreak havoc on agriculture and human health in coming years unless emissions are dramatically reduced. "I'm not sure I know how they would go about doing that".

"I am not happy about it", he said yesterday.

Trump has repeatedly cast doubt on climate change science, including by describing global warming as a "hoax".

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