Cost pressures on GM and other automakers and suppliers have increased as demand has waned for traditional sedans. The company has said tariffs on imported steel, imposed earlier this year by the Trump administration, have cost it $1 billion.Tariffs can be a useful tool and could have been deployed in ways that strengthened American manufacturing. But imposing tariffs willy-nilly because he doesn't understand how the world really works and thinks he can just strut around and show his power and everything will fall into place is not a good strategy. Economics is much more complicated than Trump's simplistic insistence that the rest of the world has been screwing America for decades and he's going to make it stop.
TRUMP on GM plant closures: "We don't like it. I believe they'll be opening up something else. And I was very tough. I spoke with her when I heard they were closing and I said, you know, this country has done a lot for general motors. You better get back in there soon." pic.twitter.com/ggV5YgEwyz
— Aaron Rupar (@atrupar) November 26, 2018