Other assembly operations to be closed are the Detroit-Hamtramck Assembly in Detroit , Michigan and the Lordstown Assembly in Warren, Ohio. GM opened its factory in Oshawa, near Toronto , in 1953. She added that the largest U.S. automaker is "taking these actions now while the company and economy are strong, to stay ahead of fast-changing industry and market conditions".
Trump heads to Buenos Aires on Thursday for a Group of 20 summit that is confronted with increasingly dire warnings, by the International Monetary Fund among others, of the potential harm faced by the world economy from the president's trade wars.
A Microsoft logo is seen a day after Microsoft's $26.2 billion purchase of LinkedIn, in Los Angeles, California, US, on June 14, 2016. Microsoft on Monday surpassed Apple as the most valuable company in the United States, with a market capitalization of about $ 812 billion .
In an interview with The Wall Street Journal , Trump said that if negotiations did not produce a favourable outcome for the U.S., he would also put tariffs on the rest of Chinese imports that are now not subject to duties. US light crude was up 33 cents at $51.96. Following Trump's remarks, Apple stock was down almost 2 percent in after-hours trading. Additionally, Trump said that he expects to boost tariffs on $200 billion of Chinese products to 25 percent in January.
GM jumped as much as 7.9 percent to $38.75, the highest since July, as of 11:16 a.m.in NY trading. In person, General Motors chief executive officer Mary Barra is smiling and congenial. GM also said it will close two plants outside North America by the end of 2019. Among the possibilities are the Detroit/Hamtramck assembly plant, which makes the Buick LaCrosse , the Chevrolet Impala and Volt, and the Cadillac CT6, all slow-selling cars.
She is expected to spend the next fortnight travelling the country trying to sell the deal before a parliamentary vote in the second week of December. "Prime Minister I plead with you, the House of Commons has never ever surrendered to anybody and it won't start now". Trump appears to be referring to the section of the deal agreed with Brussels on Sunday that would keep the United Kingdom in a customs union if a trade deal with the EU is not agreed during a two-year transition.