General motors announces massive cuts in north america more than Fourteen Thousand jobs are set to be axed as the Company Seeks to close factories in ohio michigan and canada as ontario and plans a shift to next from ability also on the program after a shopping craze of black friday and cyber monday we visit a shop with a less frenzied approach and trying to meet europe at the Hamburg Summit here in Germany China says its increasingly open to european investors but they say they are having a harder time to do business there and it stinks so badly its bad in many Public Places but the jury and its also known as the king of fruits that the chinese are developing it takes. Im Christopher Caldwell welcome to the program u. S. President trump is quote not happy with the announcement car giant General Motors made earlier on monday g. M. Said it plans to layoff more than Fourteen Thousand factory and white collar
workers in the United States and canada and put five plants up for possible clos
workers in the united states and canada and put five plants up for possible closure g.m. said the move was in response to increased cost pressure and waning demands for traditional sedans now it wants to ramp up resources for electric and self driving vehicles the company also said tears on imported steel imposed earlier this year by the trump administration have cost it one billion dollars so far. for more let s bring in our wall street correspondent yes quarter here let me just give this quote to you by general motors mary barra she says we re right sizing capacity for the realities of the marketplace nevertheless fourteen thousand jobs that sounds like a pretty hefty response. it certainly is but g.m.c. old mary barra also said that the industry is changing dramatically in the past two years g.m.a. clearly had record profits but says she wants to act out of
a position that is still strong and she does not want to wait to kill the industry is turning sore and there s no question about it that us americans are not too crazy about smaller size vehicles is the industry is changing rapidly with cars sharing services tender specially also was low gasoline prices here in the united states and that s why that s why g.m. believes they have to act now all right so jim might adapt to changing marketplace here nevertheless president trump says he s not happy about this news and after all he promised to increase manufacturing jobs what we re seeing is quite the opposite . now certainly and also some other measure from the u.s. president you mentioned it earlier the tariffs on steel and. heard companies like general motors even if mary barra did not say that this is the reason why they re
there s no question about you know she you know is kind of. europe turning to china in the fight against u.s. protectionism a pretty remarkable pivot towards a country that s itself been accused of not being open for business chinese industry leaders are presenting it as an opportunity. so based on the current trade situation as in china need to be closer to the european countries european companies and to end the stand better about the european market so this is a very good card for europe and china need each other and the stand each other to work together better. but however strategic the alliance may be old tensions remain foreign companies doing business in china still complain about the difficulty of competing with domestic firms backed by what critics see as market distorting
free and fair global trade not saudi influenced by what s currently coming out shots from america. one must fight for the preservation of an export nation is and i think that means free and open market and not to allow yourself to be told who you re allowed to trade with answers or not this tendency towards this kind of extra analyse on the side of the americans is a big problem for an export nation like germany and europe we need to take a common stance against this enemy and to do that we need partners among them is china there s no question about it. sheena is kind of. europe turning to china in the fight against u.s. protectionism a pretty remarkable pivot towards a country that s itself been accused of not being open for business chinese industry leaders are presenting it as an opportunity. so based on the current trade