DETROIT (AP) — 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, near Cleveland.
Trump tweeted early Tuesday that GM is sending Mexican-made Cruzes to the U.S. tax-free. He told GM to stop or pay a big border tax.
General Motors is sending Mexican made model of Chevy Cruze to U.S. car dealers-tax free across border. Make in U.S.A.or pay big border tax!
— Donald J. Trump (@realDonaldTrump) January 3, 2017
GM saw the tweet and is formulating a response.
Shares of GM fell 0.4 percent 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 Focuses would be preserved because the plant would get a new pickup and SUV.
Later Tuesday, Ford announced the following:
#Breaking News: @Ford has canceled plans to build a new $1.6 billion factory in Mexico, investing $700 million in Michigan expansion. $F pic.twitter.com/ndBHyY3Pu5
— FOX Business (@FoxBusiness) January 3, 2017
