Malignant Narcissist and the embarrassingly ignorant Donald Trump used his “BULLY” pulpit as the president of the United States to threaten: “General Motors Should Pay Back Bankruptcy Aid.”
Trump said this, “One day after General Motors reported it will shutter five North American assembly and powertrain plants.” The reason: the tariffs President Donald Trump has placed on steel and aluminum in his trade war with the world.
And the BBC.com reports. “(Trump’s) Critics point out the US gets most of its (imported) steel from Canada and the EU – staunch US allies.”
In addition, ABC News reports, “The U.S. produced 81.6 million metric tons of steel in 2017, according to steel trade group The World Steel Association (WorldSteel).” How much steel did the U.S. import: “In 2017, there were 36 million metric tons of steel imported to the U.S.”
In June, Trump already had “imposed a 25 percent tariff on $50 billion in Chinese goods, including China-built cars such as the Buick Envision.”
The Envision was first introduced publicly in China on July 1, 2014, with a photo of the car under a cover and placed between a Buick Encore and a Buick Enclave.
The Buick Envision has never been manufactured in the United States and no American jobs were lost jobs because of the Buick Envision being produced in China.
Back in July 2014, NBC News reported, “How China, Not Your Grandfather, May Have Saved Buick’s Future.”
The reason China saved Buick is because in China Buick became a luxury car equal to BMW and Mercedes Benz. “In the late 1990s, when General Motors wanted to become one of the first Western automakers to set up a plant in China, government officials told then-CEO Jack Smith they wanted GM’s ‘best brand,’ he once recalled — not Cadillac, not Chevrolet, but Buick. Today, GM is the second-largest automaker in China and Buick is its top brand.”
How many GM Buicks are sold in China vs the United States?
Forbes.com reports, “When GM went through bankruptcy a decade ago and euthanized Saturn, Pontiac, Saab and Hummer, the custodians also pressed the case to relegate Buick to the automotive graveyard along with Mercury, Plymouth, Hudson, Studebaker, AMC, LaSalle, etc. But they were deterred by a passionate case for Buick made by GM executives stating that if the brand were killed in the U.S., it would probably dramatically impact the brand’s bizarrely healthy business in China. That’s right. Buick sells more than 800,000 Buicks a year in China. In the U.S., Buick did about 220,000 last year.”
Do you think the Chinese would be willing to buy that many Buicks if China allowed them to be imported, with a price increase, if GM moved manufacturing back to the United States for Buicks sold in China?
In fact, some U.S. made vehicles are exported to and sold in China. USA Today reports, “Altogether, Chinese sales of U.S.-made vehicles totaled about 266,657, representing less than 1% of the world’s largest automotive market.” Compare that number to how many cars made in China were sold in the US: USANews.com provides the answer: 50,000.
What country will lose the most jobs if the U.S. is forced to stop selling more than a quarter million cars made in America to Chinese consumers while China stops selling fifty-thousand to U.S. consumers all thanks to Donald Trump’s trade war?
Let’s not forget that Donald Trump has said he is a stable genius, very intelligent, and a great businessman … that caused U.S. banks to lose more than a billion dollars from Trump’s six biggest bankruptcies. Did you know that Donald Trump said during the 2016 presidential election debates that he never had a bankruptcy?
It is safe to say that if Donald Trump brags about how great he is, he is lying.
If you are curious how to sell China manufactured products in China, visit the China Law Blog here.”
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