- General Motors (GM -1.5%) and the auto industry are still on the mind of POTUS. The latest tweets indicate that the issue of tariffs on imported cars is being studied and that Congress needs to get smart on car trade.
- While some of President Trump's favorite corporate targets have sailed through his attacks with their share prices just fine, the political wildcard of GM's heavy involvement in the swing states of Michigan and Ohio could keep the issue an overhang. Don't expect Ford (F -0.4%) and Fiat Chrysler (FCAU -1.8%) to be unscathed as well.
- Another development this morning is the retweet by Treasury Secretary Steven Mnuchin's Twitter account of a suggestion that GM should reimburse the U.S. in full for its bailout (outside of the TARP loan already paid back). For his part, Mnuchin says the tweet was sent by an unauthorized individual, which in itself leads to some other questions.
- Now read: GM Transformation Plan Faces Political Fallout From Donald Trump
Original article