Trump singles out GM for moving plants to China

01 Septembre, 2019, 17:57 | Auteur: Auguste Feret
  • Trump singles out GM for moving plants to China

GM - its Detroit headquarters shown here - is now the #2 automaker in China.

President Donald Trump distorted the state of the auto industry Friday in a tweet going after General Motors.

Nor is the president the only politician who has criticized GM for seemingly moving jobs overseas.

Second, GM is far from a bit player in Detroit.

President Donald Trump on Friday disdainfully labeled General Motors as "one of the smallest auto manufacturers" in Detroit, reprising his call that the automaker move jobs back to the U.S. Something else he might not be happy with: GM is also one of the largest vehicle makers in China. "They moved major plants to China, BEFORE I CAME INTO OFFICE". "This was done despite the saving help given them by the USA".

"They expect to share in the profits for their hard work", UAW President Gary Jones said in an interview back in July.

There is no question that GM has downsized since it was forced into Chapter 11 a decade ago.

GM's expansion in Mexico has been a greater culprit behind its stagnant US manufacturing headcount.

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Trump has made boosting auto jobs a key priority and has often attacked automakers on Twitter for not doing enough to boost US employment. That is now down to around 46,000. "Make those investments here, build those vehicles in the US and retain the existing workforce for those jobs", Biden said.

GM is one of the largest auto manufacturers in China.

By calling attention to GM's decline, Trump has added to the pressure the company will be under at the bargaining table later this year. In fact, GM now sells more cars in China than North America. But almost all of the vehicles made in China were sold there.

GM's factories in China nearly exclusively produce cars and parts for that foreign market, which may not be contributing to the workforce decline. It set up and expanded operations there to serve China's market.

What GM would move back is unclear. Dziczek blamed the sales drop on the growing US trade war with China. Currently, it only imports one Chinese-made vehicle into the States, a relatively modest-selling Buick SUV. The U.S.is imposing 15% tariffs on more than $125 billion in Chinese goods starting Sunday. But almost all of the vehicles it makes there are sold in China.

If it were to pull out, it likely would simply sell its existing Chinese factories to partners such as Shanghai-based SAIC. Even after a recovery, growth opportunities are considered modest.

Trump's tweet reads as follows: "General Motors, which was once the Giant of Detroit, is now one of the smallest auto manufacturers there".

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