President-elect Donald Trump issued a pointed warning to General Motors on Tuesday for manufacturing its Chevrolet Cruze in Mexico, suggesting on Twitter that he'd slap the auto manufacturer with a "big border tax" if it didn't bring manufacturing back to the U.S.:
As it turns out, Chevrolet Cruze sedans sold in the U.S. aren't made in Mexico, but in Ohio. Shortly after Trump tweeted his demands at GM, the car manufacturer issued a fact-check of sorts on the president-elect's claims:
Still, Trump's erroneous social media blast had an effect. Following Trump's tweet and before the markets opened Tuesday, shares of GM fell 1 percent. After GM clarified its manufacturing activity in Mexico, its shares rebounded the full 1 percent.
GM is just the latest target of Trump's efforts to keep jobs in the U.S. and rebuild American manufacturing. He previously singled out Ford and Carrier.