Can Trump yank GM's electric vehicle tax credit?

'You better get back in there soon’: Trump vows to get tough with General Motors over plant closures

Trump said on Twitter that the 25 percent tariff placed on imported pickup trucks and commercial vans from markets outside North America in the 1960s had long boosted U.S. vehicle production.

Hundreds of General Motors workers and their families have gathered in OH for an emotional prayer vigil over the closure of their plant and the loss of 15,000 jobs across the company. Canada and the European Union retaliated by raising their own tariffs on USA -made steel and aluminum. Trump added he has "great power on this issue", which he said "is being studied now".

The president's remarks follow GM's announcement on Monday about closing assembly plants in Detroit-Hamtramck and Lordstown, Ohio, along with transmission plants in Warren and the Baltimore area.

Mr Trump tweeted: "Nothing being closed in Mexico and China". "We appreciate the actions this administration has taken on behalf of industry to improve the overall competitiveness of USA manufacturing", the statement said. "We are now looking at cutting all @GM subsidies, including for electric cars", he tweeted.

GM said on Monday that the Oshawa plant would close in December 2019.

"Look, we made this deal, we've worked with you along the way, we've done other things with mileage standards, for example, and other related regulations", Kudlow said, referencing the recently negotiated U.S. -Mexico-Canada trade agreement. "We've done this to help you and I think his disappointment is, it seems like that they kind of turned his back on him".

A White House rebuke to GM would fly in the face of long-held Republican opposition to picking winners in the marketplace.

The Trump administration ordered a review of the retaliatory auto tariffs enacted by China and singled out General Motors suggesting they could have prevented the layoffs and plant closures by following the businesses practices of other vehicle companies. "That's OH, and you better get back in there soon'". It's not clear precisely what, or when, action may be taken. The president threatened to eliminate tax credits for GM's electric vehicles along with other tax breaks and subsidies. GM produces the all-electric Chevrolet Bolt, and already was expecting to see the subsidies drop early next year.

Dias said he would meet with the United Auto Workers on Wednesday and discuss the possibility of "mass actions" in GM plants across the two countries.

A day earlier, he said GM "better damn well open a new plant" in OH. China countered by imposing taxes on $60 billion worth of US goods. The company also said it would cut more than 8,000 white-collar jobs and close a Canadian plant as it downsizes to free capital to invest in autonomous and electric vehicles.

"As the president has repeatedly noted, China's aggressive, state-directed industrial policies are causing severe harm to USA workers and manufacturers", Mr Lighthizer said. Drive It Home is also asking community members to light a candle for the plant and use the group's profile frame on Facebook to show their support for workers.

GM has received about $333.5 million in federal spending in the past 12 months, according to a US government website that tracks federal expenditures.

President Donald Trump is calling attention to an auto industry boom that doesn't exist.

Trump's statement - which sent GM shares lower - came after the automaker on Monday announced it was cutting 15 per cent of its workforce, shuttering five plants in the U.S., including two in MI and one in OH, key battleground states that Trump narrowly carried in the 2016 presidential election.

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