The daily business briefing: November 28, 2018

Trump threatens to strip GM's electric-car subsidies, Trump and GOP leaders discuss a spending deal to avert a shutdown, and more

A GM sign and American flags
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1. Trump threatens to strip GM's electric-car subsidies

President Trump on Tuesday threatened to cut General Motors' government subsidies, including those for electric cars, due to the automaker's decision to close several North American plants and lay off thousands of workers. "Very disappointed with General Motors and their CEO, Mary Barra, for closing plants in Ohio, Michigan and Maryland," Trump tweeted. "Nothing being closed in Mexico & China. The U.S. saved General Motors, and this is the THANKS we get!" GM shares fell by 3.5 percent after Trump's criticism. GM and its subsidiaries have received $7.6 million in government grants and tax credits so far this year, although the $7,500 plug-in tax credit goes to the consumer, not GM.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.