Will He Tank Another Top US Manufacturer’s Stock Again?
Early Tuesday morning Donald Trump attacked General Motors, a $152 billion American manufacturing company, for making some cars in Mexico then importing them into the United States to be sold. In an unprecedented move – targeting one company, not an industry – the president-elect via Twitter threatened GM with tariffs if they do not begin making the cars in the U.S.
On Twitter, many noted Trump’s extreme hypocrisy.
Trump’s clothing line is also not made in America, it’s made in China and Mexico – countries he regularly attacks – and 10 other countries:
One person noted that Trump’s daughter Ivanka makes her clothing overseas also:
Another noted that Trump appointed GM Chairman and CEO Mary Barra to his economic advisory panel:
Trump’s previous tweets sunk the stock prices of Boeing and Lockheed Martin, two other U.S. manufacturers, which have led to accusations Trump might be intentionally trying to bring down stock prices, allowing those next to him advance notice to rush in and buy them at a big discount, and sell them as they rise back up.
And in fact, as MarketWatch reports, GM’s stock price is already falling in pre-market action.
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