It was the latest angry outburst from Trump who has frequently attacked United States companies that fail to fall in line behind his promises to protect U.S. jobs.
"The reason that the small truck business in the U.S.is such a go to favorite is that, for many years, Tariffs of 25% have been put on small trucks coming into our country".
In doing so, though, the president repeated his frequent false claim that steel plants are opening all over the country.
"The president wants to see American companies build cars here in America not build them overseas and he is hopeful that GM will continue to do that here", she said.
Trudeau and Trump - who have been at loggerheads for months - are expected to meet at the G20 summit in Argentina at the end of the week. In fact, a number of lawmakers have discussed curbing Trump's power to impose import penalties.
Buyers of electric vehicles made by GM and other automakers get federal tax credits of up to $7,500, helping reduce the price as an incentive to get more of the zero-emissions vehicles on the road.
Treasury whittled down its GM stake through a series of stock sales starting in November 2010, with the remaining shares sold in December 2013 at a $11.2 billion loss.
While GM's move has more to do with long-term consumer preferences, industry trends, and technological advances, analysts told Business Insider that Trump could use the move as an excuse to move forward with the auto tariffs. He argued that a similar import tax on cars would have prevented GM's move to close plants in the US. In August, U.S. Steel also said it was upgrading its Gary, Indiana plant.
Contradicting President Donald Trump's November 29 claim that it has announced a new plant in the USA, the automaker said it is only considering opening a second facility. It's not clear precisely what, or when, action may be taken.
German brands dominate the U.S. luxury auto market and account for tens of thousands of U.S.jobs at assembly plants alone, mostly in the U.S. South. Before the GM layoffs, automakers were on pace to add roughly 9,000 jobs this year.
On Monday, GM CEO Mary Barra said the restructuring plan was a necessary step in order for the company to shift from mass producing traditional sedans to focus on futuristic projects like electric and self-driving cars, as well as more profitable trucks and SUVs. The earlier rally was linked to Chief Executive Officer Mary Barra's plan to bolster cash flow by canceling production at five plants in the USA and Canada and jettisoning slow-selling sedans from the lineup.
Such tariffs, according to an analysis released by the Peterson Institute for International Economics in May, could see production fall by 1.5% and "cause 195,000 U.S. workers to lose their jobs over a 1- to 3-year period or possibly longer". USA taxpayers lost more than $10 billion in the rescue of the company during the financial crisis a decade ago.
BMW is considering building a second plant in the United States. "If we did that with cars coming in, many more cars would be built here".
GM's attempt to close the factories still has to be negotiated with the United Auto Workers union, which has promised to fight back.