Trump threatens to cut federal incentives for GM’s electric cars

President Trump on Tuesday threatened to end General Motors’s federal tax credit for electric vehicles in retaliation for the company’s planned layoffs.

Trump tweeted that he is “very disappointed” with the company’s plans to close up to five manufacturing plants — four of them in the United States, one in Canada — and lay off about 15 percent of its workforce.

GM’s share price fell on the New York Stock Exchange in the minutes after Trump’s tweet, reaching as low as 3.8 percent below Monday’s closing price.


More Stories From Around the Web: