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GM CEO Mary Barra and President Trump in March 2017. Photo by Nicholas Kamm/AFP via Getty Images

President Trump believes that General Motors "turned their back on him" in announcing layoffs and plant closures, according to top White House economic adviser Larry Kudlow.

Why it matters: For Trump, politics is always personal. For GM, this could mean less influence over future policy.

More from Kudlow, who spoke with reporters in the Roosevelt Room of the White House:

“These are their business decisions, I just think there’s a tremendous amount of disappointment, maybe even spilling over into anger. President Trump expressed his dissatisfaction, lots of other people did, this is a bipartisan thing."
“I met with [GM CEO Mary] Barra, whom I generally like. I have no idea if she’s made the right decisions or the wrong decisions, it’s not my business. I do think, however, the president’s point of view is, we concluded the USMCA deal which really helped the American auto business and American auto workers, and was designed to do that. And the car companies supported us.”
"So part of the disappointment is, 'We made this deal, we worked with you along the way, we’ve done other things — mileage standards for example and other regulations. We’ve done this to help you, and I think his disappointment is it seems like they kind of turned their back on him."

The backdrop: U.S. automakers generally supported the USMCA, but mostly because it was considered preferable to Trump's threats of ripping up NAFTA without a replacement, and additional tariff threats.

Go deeper

Local news moves to the inbox

Illustration: Annelise Capossela/Axios

A slew of new companies are launching platforms for local newsletters, a shift that could help finally bring the local news industry into the digital era.

Driving the news: Substack, the email publishing platform for independent journalists, on Thursday announced a new local news platform.

J&J vaccine pause hurts its reputation

Reproduced from Economist/YouGov poll; Chart: Axios Visuals

Americans' confidence in the safety of Johnson & Johnson's coronavirus vaccine took a big dip this week after the pause in its use, per new YouGov polling, even though the risk of blood clots following the shot is extremely low, if it exists at all.

Why it matters: For the majority of people, particularly high-risk Americans, getting the J&J shot is almost certainly less dangerous than remaining vulnerable to the coronavirus.

Felix Salmon, author of Capital
1 hour ago - Economy & Business

Inflation will rise. Don't panic

Illustration: Annelise Capossela/Axios

It's been 40 years since America last saw a damaging level of inflation. Yet despite that — or perhaps because of it — inflation fears are widespread, and could even become self-fulfilling.

Why it matters: The government's strategy for bringing back employment and widespread prosperity involves a necessary — yet temporary — increase in inflation. When an entire generation has never experienced such a thing, that can be disconcerting. And for the time being, Americans are not buying what the government is selling.