Following layoff announcement, Trump threatens to cut GM subsidies

President Trump tweeted on Tuesday that he's "very disappointed" with General Motors, and is considering withholding subsidies from the company.

On Monday, GM announced it is closing five facilities in the U.S. and Canada, eliminating 14,000 jobs, because sedans aren't selling as well as SUVs and trucks. In response, Trump tweeted: "Very disappointed with General Motors and their CEO, Mary Barra, for closing plants in Ohio, Michigan, and Maryland. Nothing being closed in Mexico & China. The U.S. saved General Motors, and this is the THANKS we get! We are now looking at cutting all @GM subsidies, including ... for electric cars. General Motors made a big China bet years ago when they built plants there (and in Mexico) — don't think that bet is going to pay off. I am here to protect America's Workers!"

A person familiar with the matter told CNN that GM is not sure what subsidies Trump is referring to, because the $7,500 plug-in tax credit it receives goes to the consumer, not GM.

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