Trump vows to retaliate against GM

President Trump threatened to cut GM subsidies after the automaker announced thousands of job cuts. ABC News' Lana Zak reports.
2:14 | 11/28/18

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Transcript for Trump vows to retaliate against GM
Concerned with the growing concerns about the economy and president trump. Casting blame this morning it and you interview he's taking on the Federal Reserve and also promising to retaliate against General Motors. For closing several plants in laying off thousands of workers. The question now what can the president really do about it. NBC's lot of Zach is in Washington with the story lot of good morning. Good morning TD NA and can that the president is threatening retaliatory measures but congress actually has the power to do what he's promised thank. But the question is will they actually get together to do it. And how much would that help. Nearly 151000. General Motors workers are fearing for their jobs after the carmaker announced it plans to shut down four plants in the United States in one in Canada. Hill honestly he's like what do you would like I don't know what to do next. GM says it needs to support growth in trucks and suvs. The consumer demand forced them to eliminate low selling cars affects everybody the White House is upset this disappointment that it seems like GM. Would rather build its electric cars in China rather than the United States president from quitting the US saved General Motors and this is the thanks we get. We are now looking at cutting all GM subsidies including for electric cars. But now might be a hollow threat the president needs congress to pass new legislation to end those tax credits. And GM is preparing to phase out of the electric vehicle credits already. So workers are frustrated with all the finger pointing the White House in GM. You voted for president trump. And at this and now feels like you know those promises were made knows promises were broken. Brazen on the wall and his. He is useful not see them as terrorists. It is so much you Rick our trade deals have discussed General Motors a lot of money and they always take it out on the backs of the workers and consumers. And president trump is also blaming summit his frustrations with the economy on the chairman of the Federal Reserve the person he appointed. And to that position telling the Washington Post quote I'm doing deals and I'm not being accommodated by the fat can yesterday. They should all make for smooth sailing when the stock markets open later today lands act thank you.

This transcript has been automatically generated and may not be 100% accurate.

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