President-elect Donald Trump on Tuesday attacked General Motors in a tweet, claiming the auto giant is making a Chevy Cruze model in Mexico and then sending them to U.S. dealers tax free. “General Motors is sending Mexican made model of Chevy Cruze to U.S. car dealers-tax free across border. Make in U.S.A.or pay big border tax!” Trump said on Twitter.
GM did not immediately return calls for comment. GM shares, which were at $34.38 in premarket trading before the tweet, fell to a session low of $34.22, or about a $244 million hit to its market value. However, shares have since come back to about half of where they were before the tweet. READ MORE
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