President-elect Donald Trump stated Tuesday that General Motors and other United States companies could deal with a large tax if they ship producing overseas.
“General Motors is sending Mexican made model of Chevy Cruze to U.S. car dealers-tax free across border,” Trump tweeted. “Make in U.S.A. or pay big border tax!”
Shares of the car manufacturer slipped by around 1% in pre-market trading after the tweet.
During his election, Trump has encouraged a number of big companies to keep production and jobs in the United States. The air-conditioner developer Carrier stated that it would keep over 1,000 jobs throughout 2 areas in Indiana, while the state will give $700,000 in tax incentives.
Late in 2016, some of Trump’s tweets regarding public business were market-moving. He stated the expense of Boeing’s agreement to develop a brand-new Air Force One was “exorbitant,” sending out the shares lower. His tweet calling for the country to broaden its nuclear ability till the “world comes to its senses regarding nukes” increased a uranium Exchange Traded Fund.
Trump likewise commented that the expense of the F-35 fighting-jets program ran out control, sending shares of Lockheed Martin drop 4% after the tweet.
Trump stated during last month that he had sold all his stocks in June.
