President May Cut Subsidies for GM After Automaker Announces Plant Closures

President Donald Trump says he's ``very disappointed'' in General Motors closing plants and he says the White House is ``looking at cutting all subsidies'' for the auto giant.   

President Trump tweeted his warning Tuesday, a day after GM announced it would shutter five plants and slash 14,000 jobs in North America.   

 
 

President Trump angrily referred to the 2008 federal auto bailout by adding that ``the U.S. saved General Motors, and this is the THANKS we get!''   He floated the idea of cutting subsidies for GM's electric cars program.  

National Economic Council director Larry Kudlow said Tuesday the White House's reaction was ``a tremendous amount of disappointment maybe even spilling over into anger.'' Kudlow met with Barra.

Kudlow says it felt as though GM ``kind of turned'' its back on President Trump by closing the plants in the Midwest. Kudlow says he didn't see a recession in the offing.

General Motors Co. says it's abandoning many of its car models and restructuring to focus more on autonomous and electric vehicles.

Source: AP

Photo Credit: Getty Images

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