PressTV-Trump to cut GM’s subsidies as retaliation for layoffs

US President Donald Trump has threatened to cut subsidies for General Motors Co. in retaliation for the automaker’s decision to shutter plants and slash jobs.

On Monday, GM announced it would make overhauls that would result in $6 billion in cost reductions by 2020, including closing up to five plants in the US and Canada and laying off 15 percent of its salaried workforce equal to a total of some 14,700 jobs.

In response, Trump on Tuesday took to Tweeter, saying, “We are now looking at cutting all @GM subsidies, including … for electric cars.”

Meanwhile, Trump and Canadian Prime Minister Justin…

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