Trump's latest US corporate Twitter target: General Motors
DETROIT - Although Donald Trump is targeting GM on Twitter today for importing compact cars to the U.S. from Mexico, the company says all of its Cruze sedans sold in the United States are now made in Ohio.
Today's tweet was the latest threat from Trump to tax companies that move production to Mexico and ship products back to the U.S. under the North American Free Trade Agreement.
But GM says while it did import some Cruze sedans from Mexico to meet demand last year as it rolled out a new version of the compact car, those imports have stopped. A spokesman says only the hatchback versions are now imported from Mexico -- and there were only about 4,500 of those sold in the United States last year, compared to about 172,000 Cruzes in all that were sold in the U.S. through November.
In fact, even the United Auto Workers union has no problem with making the hatchbacks in Mexico. A union local president says the hatchback production would amount to less than a day of output at the Ohio plant -- which he says isn't equipped to build it anyway.
GM shares fell by about 1 percent in premarket trading immediately after the tweet, but bounced into positive territory after the market opened.
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!— Donald J. Trump (@realDonaldTrump) January 3, 2017