From the “so much winning” file.
This is a serious body blow to the American economy and may reveal much about how hollow the so-called Trump Boom really is. While GM’s cutbacks reflect long standing problems in the company, they might well have been less serious if Trump’s tariffs and trade barriers were not in place. The company has particularly lost sales in China.
The long term consequences of the layoffs are hard to foretell. But, clearly, they won’t be good for GM’s employees and perhaps the nation as a whole. However, according to the Post, Wall Street loves the cutbacks and has rewarded the company with higher stock prices.