Donald Trump threatens General Motors with import tax
In another tweet targeting a U.S. company, President-elect Donald Trump is threatening to slap a tax on General Motors for importing compact cars to the U.S. from Mexico.
But GM makes the vast majority of compact Chevrolet Cruzes in Lordstown, Ohio.
Trump tweeted early today that GM is sending Mexican-made Cruzes to the U.S. tax-free.
He told GM to stop or pay a big border tax.
GM saw the tweet and is formulating a response.
Shares of GM fell 0.4 per cent to $34.70 in premarket trading after the tweet.
Last year Trump threatened to tax Ford, which plans to shift production of the compact Focus to Mexico.
Jobs at the U.S. factory that makes the Focus would be preserved because the plant would get a new pickup and SUV line.