GM cutting 14,700 jobs after losing $1 billion in Trump's trade war

After Trump’s ill-advised trade war cost GM $1 billion, the auto manufacturer is announcing that it will cut thousands of jobs and may close several factories.

“General Motors will lay off 14,700 factory and white-collar workers in North America and put five plants up for possible closure,” the Associated Press reports.

These plans are not final, the AP notes, as GM is still in talks with the United Auto Workers union.

But the shocking announcement comes at the start of the holiday season, just as these workers may be preparing to celebrate with their families.

GM’s move also comes after Trump’s tariffs on imported steel reportedly cost the company $1 billion.

One of the factories up for possible closure is a plant in Warren, Michigan — the same city where Trump held a 2016 campaign rally and promised that if he was elected, “You won’t lose one plant.”

Other factories that could be closed or severely impacted are in Detroit, Baltimore, and Lordstown, Ohio.

Instead of the prosperity he promised, Trump’s policies are leading to pink slips.

GM isn’t the only iconic American company that has been hurt by Trump’s failed trade war.

Earlier this year, Harley-Davidson announced that because Trump’s reckless tariffs would have cost the company around $100 million annually, the motorcycle giant was moving some of its manufacturing overseas.

As he usually does when someone dares to criticize him, Trump threw a tantrum and lashed out at Harley-Davidson.

Trump’s trade war is also wreaking havoc on American farmers, whose access to overseas markets has been crippled by Trump’s policies. As a result, some farmers are plowing under their crops instead of harvesting them.

Trump promised billions to bail out these farmers, but only a tiny percentage of the money has actually been distributed. And even if the funds were fully distributed, many farmers say it’s not a real solution to the problem.

In Grinch-like fashion, Trump is ruining the holidays for thousands of families.

Published with permission of The American Independent Foundation.