Trump says GM should repay US taxpayers for bailout

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Kudlow, who met with Barra on Monday, said that Trump felt betrayed by GM, which the government had been trying to help.

President Donald Trump on Thursday celebrated his administration's tariffs on Chinese goods, claiming that they're bringing in "billions of dollars" for the U.S. However, according to Treasury Department data, the tariff revenue is just a drop in the fiscal bucket.

Even Republican leadership in the Senate has signaled they would move to curtail Trump's tariff powers if he continues to scale up his protectionism-a rare objection from a group that has mostly reconciled itself to the president's policy aims.

"The U.S. saved General Motors, and this is the THANKS we get!" the president tweeted on Tuesday.

The Republican president on Tuesday escalated his attacks on GM's plan to cut 15,000 jobs and mothball five North American factories, including four in the United States. The President added that he believed GM would be "opening up something else" in the state of Ohio.

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There are many anonymous Twitter accounts that post inaccurate information in support of Trump, but "The_Trump_Train" made quite an impact within the White House on Wednesday.

In its announcement, GM said it would effectively close five assembly and propulsion plants in the United States and Canada in 2019, a reorganization plan meant to make the company "highly agile, resilient and profitable".

However, taking away that credit, which is phasing out for GM models anyway, may prove hard for Mr. Trump.

"If you are going to have a company that's going to show us their middle finger then I think our government should show them our middle finger as well", Dias said. The ability to make more components in the US would help BMW address local content rules, according to Bloomberg. In June he threatened Harley Davidson with higher taxes after the motorcycle maker announced it would move some production overseas.

The president also said other countries sending their cars to the USA have been taking advantage of the situation for decades.

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Trump has not followed up on these threats. "Nothing being closed in Mexico & China". "I am here to protect America's Workers!"

"Ohio wasn't properly represented by their Democrat senator, Sherrod Brown, because he didn't get the point across", Trump told Wall Street Journal.

The EU has already retaliated against the United States earlier this year for the steep tariffs Trump imposed on steel and aluminum, which Brussels says are "deeply unjustified".

Beyond the subsidies given to customers, 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. But a change in the tax break would require action by Congress.

Some members of Congress have proposed raising the cap on EVs eligible for federal tax credits or to otherwise extend the credit, including Sen.

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One of the plants where GM plans to slash production and lay off workers is in the area where Trump has promised to boost employment. Tesla hit the cap in July.

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