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Trump says General Motors should 'start moving back to America again'

President Donald Trump took aim at General Motors once again early Friday, urging the American automaker to shift its production from China. The broadside came days before planned escalations between the US and China, who have been mired in a trade dispute for more than a year.The president ordered private US companies to immediately find alternative markets to China in a flurry of tweets last week, but the command carried no legislative weight. Visit Markets Insider for more stories.President Donald Trump took aim at General Motors once again early Friday, urging the American automaker to shift its production from China. "General Motors, which was once the Giant of Detroit, is now one of the smallest auto manufacturers there," the president wrote on Twitter. "They moved major plants to China, BEFORE I CAME INTO OFFICE. This was done despite the saving help given them by the USA. Now they should start moving back to America again?"General Motors did not immediately respond to an email requesting comment. The broadside came days before planned escalations between the US and China, which have been mired in a trade dispute for more than a year. The two sides raised tariffs on each other's products last Friday and have announced plans to extend them further on September 1 and December 15. The Detroit-based automaker has long been criticized by Trump, whose "America First" initiative was based on promises to bring jobs back to the US. The president ordered private US companies to immediately find alternative markets to China in a flurry of tweets last week, but the command carried no legislative weight. General Motors was at one time the largest private employer in the country, but increasingly began to move production to Mexico and China following the financial crisis. Trump has renewed criticism of the automaker following closure announcements in states important to his re-election bid in 2020.General Motors announced in November it would idle a plant in Lordstown, Ohio, in a move that was expected to cost 14,000 jobs. Other restructuring plans announced this year were expected to affect plants throughout Michigan, which narrowly tipped for Trump in 2016 on the back of pledges to support the auto industry.Markets Insider is looking for a panel of millennial investors. If you're active in the markets, CLICK HERE to sign up.Join the conversation about this story » NOW WATCH: Mexico has just one store where you can legally buy a gun and it's located on a heavily-guarded military base

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Tesla surges after China says it will exempt several of the company’s models from its purchase tax (TSLA)

Shares of Tesla surged more than 4% in early-morning trading on Friday after China's automotive regulator said it planned to exclude several Tesla models from a purchase tax. China's Ministry of Industry and Information released the statement on Friday, and the list includes Tesla's Model 3, Model S, and Model X vehicles. Tesla recently raised prices in China after the yuan began trading at its lowest level in more than decade, according to Reuters. Watch Tesla trade live. Visit the Markets Insider homepage for more stories. Tesla's stock surged 4% early on Friday after China's primary automotive regulator said it intends to exempt several of the company's models from an auto purchase tax. China's Ministry of Industry and Information published the statement on Friday, according to CNBC. The list of exemptions contains electric vehicles including Tesla's Model 3, Model S, and Model X.Tesla increased prices in China earlier this week after the yuan began trading at its lowest level in more than a decade, according to Reuters. The exemptions could help Tesla offset costs it incurs due to the ongoing US-China trade war. The electric car manufacturer has also been contemplating raising the price of its vehicles in China to offset the cost of upcoming auto tariffs in December, Reuters reported. Markets Insider is looking for a panel of millennial investors. If you're active in the markets, CLICK HERE to sign up.The purchase tax exclusion will be welcome news for Tesla, as China remains a key opportunity for the company to ramp up sales of its vehicles overseas. "Tesla's ability to penetrate China as a market opportunity is key to its long-term growth," Wedbush analyst Daniel Ives said it a note to clients on Thursday. Ives also pointed out that China has been a "wild card" for Tesla in terms of demand due to the possibility of new tariffs.  Shares of Tesla are down 33.38% year-to-date through Thursday's close. Join the conversation about this story » NOW WATCH: Here's what airlines legally owe you if you're bumped off a flight

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