GM shares fall after Trump threatens to cut subsidies for company as retaliation for layoffs

President Donald Trump will consider cutting all subsidies to General Motors after the company announced plans to slash productions at several American plants, he said Tuesday.

“We are now looking at cutting all @GM subsidies, including…. for electric cars,” the president wrote in a pair of tweets.

The automaker’s shares fell following the tweet and were down more than 2 percent on Tuesday afternoon.

Trending on Hotair Video