Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.Marketsread more
President Trump also said he is "not looking for a partial deal" with Beijing, moving away from his suggestion last week that he would consider an "interim deal."Politicsread more
Progress on trade talks will determine how far market will move above new highs.Trader Talk with Bob Pisaniread more
For investors taking a breather from the chaos in August, buckle up as the market is about go crazy again, Goldman Sachs warned.Marketsread more
Michael Pack, a conservative filmmaker linked to Steve Bannon, saw at least $1.6 million in donations from his nonprofit sent into the coffers of his independent production...Politicsread more
The Patriots released Antonio Brown only 11 days after signing the wide receiver.Sportsread more
The Wall Street Journal's report came as a top Ukraine official said President Donald Trump "is looking" for Ukraine officials to investigate business dealings of Biden's son...Politicsread more
A tour bus carrying Chinese-speaking tourists crashed near a national park in southern Utah, killing at least four people and critically injuring up to 15 others, authorities...U.S. Newsread more
Gun maker Colt announced Thursday that it will halt its production of AR-15 rifles for civilian sales, but the news might not be as exciting for gun control advocates as it...Guns and Weaponsread more
As thousands of people across the world participate in the Global Climate Strike, several Democratic presidential candidates have shared how they will take aggressive action...Scienceread more
With "tariff man" President Trump waging a tariff war and Democratic candidates pushing against big international deals, free trade has become politically homeless, writes...2020 Electionsread more
Trump, in a tweet, said GM, "once the Giant of Detroit, is now one of the smallest auto manufacturers there. They moved major plants to China, BEFORE I CAME INTO OFFICE. This was done despite the saving help given them by the USA. Now they should start moving back to America again?"
Many of the claims in the tweet against the Detroit automaker were misleading or inaccurate, according to industry data and officials.
GM remains the largest automaker in the U.S. by sales, however it has been surpassed by crosstown rivals Ford Motor and Fiat Chrysler in the number of union-represented American workers it employs. Overall, GM says it employs nearly 100,000 people in the U.S. at 132 locations in 27 states.
GM declined to comment directly on the tweet, which comes a day after Bloomberg News reported GM's 46,000 UAW workers trails Ford by about 9,000 and Fiat Chrysler by roughly 1,200.
The tweet also comes a week after China announced it would reimpose a 25% tariff later this year on American vehicles entering the country as part of the ongoing trade war with the U.S.
Regarding China, GM has never moved a facility from the U.S. to China. The automaker has long had a significant presence in China, including sales of more than 3.6 million vehicles last year. That compares with 3 million in the U.S. in 2018.
"They didn't move any factories there," said John Bonnell, a senior advisor at ZoZo Go, a firm that advises automakers on doing business in China. "The rules in China dictate that to successfully sell in China, you've got to produce in China."
Nearly all of the vehicles GM produces in China are sold in the country, however, it does import the Buick Envision from China to the U.S. GM sold 30,152 Envisions last year in the U.S., which represented 1% of its domestic sales.
Bonnell said it wouldn't be good business for any company currently operating in China to move out of the country, to then export to China.
"Anybody supplying GM in China, they're going to stay in China," he said. "They're not going to get out of China to supply to China."
GM remains one of the largest employers in the region, however, it did announce plans last year to potentially close its sole manufacturing facility in the city limits of Detroit. Aside from the Detroit plant, which is scheduled to end production by January, GM operates four large assembly plants and several powertrain and parts facilities.
Overall, GM says it employs more than 47,900 people in Michigan at 33 locations.
If GM does close the Detroit facility as part of union negotiations this year, Fiat Chrysler will be the only manufacturer of the Detroit automakers with an assembly plant in the city. The Italian-American automaker also is in the process of adding a second assembly plant in Detroit.
GM's stock was up less than 1% midafternoon Friday. Shares of Ford and Fiat Chrysler also were up modestly.
Correction: GM has 46,000 UAW workers, according to a Bloomberg report. A previous version of this story misstated the number.