GM shares and profit forecast plummet as Trump's trade war heats up (companies, economy)

[PCALMike]

General Motors Co. has become the highest-profile American company to fall victim to Donald Trump’s trade wars by cutting its profit forecast for this year on surging prices for steel and aluminum.

https://www.bloomberg.com/news/artic...s-boosts-costs

Biggest drop in the GM stock in seven years. This is even BEFORE China decide to make it more difficult for US car companies operations in the biggest car market in the world. They sell millions of cars there and expect to see far higher sales there, no company can survive without a strong presence there

How will Michigan and Ohio react to US automakers going bankrupt because of Trump?

[craigiri]

Collateral Damage. We must destroy the economy and country. Then we'll save it. Or, more likely, we will leave it for a Democrat...and then start criticizing them as they attempt to save the patient.

What else is new?

For the first time in my life I am considering divesting myself of my entire stock portfolio (at least the one in my IRA where no taxes will be due). I just don't trust this administration...although I largely trust the companies I am invested in.

[Dockside]

Obviously none of you read any business news because GM has been having it's own problems, totally unrelated to anything Trump. But instead of actually doing a little research into what's up with GM let's bash Trump...right libs? It's easier and you almost sound like you know what you're talking about.

[PCALMike]

Originally Posted by Dockside

Obviously none of you read any business news because GM has been having it's own problems, totally unrelated to anything Trump. But instead of actually doing a little research into what's up with GM let's bash Trump...right libs? It's easier and you almost sound like you know what you're talking about.

Good thing Trump is ensuring that GM is hit with a doubling of costs as a result of steel and aluminium tariffs then! Just what is needed!

Are you supportive of yet another taxpayer bailout once the farmers get their handouts?