GM Planning To Invest Over $1 Billion Into The US – 3%

GM Planning To Invest Over $1 Billion Into The US

General Motors will reportedly soon announce over $1 billion in new investments in multiple factories across the United States.

President-elect Donald Trump threatened General Motors Co. in early January with a “big border tax” for moving its Chevy Cruze model production to Mexico.

General Motors is expected to make the announcement as soon as Tuesday, which will likely include the creation of 1,000 new jobs in manufacturing plants across the nation, The Wall Street Journal reports. The announcement will not include which factories are slated to gain new jobs. The move comes just one day after Trump took aim at German automakers, and just days after he increased pressure on the largest U.S. automakers.

Trump threatened German car makers Monday with a big border tax of 35 percent for cars imported into the U.S. Trump criticized German auto makers like BMW and Volkswagen for producing the majority of their vehicles in Germany, not the United States.

“You can build cars for the United States, but for every car that comes to the USA, you will pay a 35 percent tax,” Trump told German newspaper Bild. If the German firms decide to build factories in Mexico and plan to sell cars to the U.S., “without a 35 percent tax, you can forget that,” Trump told reporters.

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