(CNBC) -- President Donald Trump will consider cutting all subsidies to General Motors after the company announced plans to slash productions at several American plants, he said Tuesday.
"We are now looking at cutting all @GM subsidies, including.... for electric cars," the president wrote in a pair of tweets.
The automaker's shares fell following the tweets and were down more than 3.5 percent on Tuesday afternoon, on track for their worst day in a month. The company did not immediately respond to CNBC's request to comment on Trump's tweets.
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