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Photo: Alex Wong/Getty Images

President Trump has asked federal agencies to find ways to cut subsidies to General Motors after the auto giant announced it's laying off 15% of its salaried workforce and closing factories in Michigan, Ohio, Maryland and Canada, Bloomberg's Justin Sink and Ryan Beene report.

Why it matters: The story signals a potentially wide-ranging effort to punish the auto giant over its planned cuts, one that extends beyond yesterday's buzz about electric vehicle tax credits (which Trump cannot change unilaterally and won't help GM much longer anyway).

Where it stands: The White House did not respond to Axios' request for comment. Here's more from Bloomberg, which cites a "person familiar with [Trump's] instructions."

  • "Trump has directed a broader examination of ways for the federal government to block funds to GM, the person said Wednesday," Sink and Beene write. "Fox Business reported earlier Wednesday that the Energy Department was examining funds provided to GM. Other agencies have received similar instructions, the person said."

By the numbers: According to Bloomberg, GM has received $333.5 million over the past year, almost all of which stems from federal agency vehicle purchases.

  • The report adds that in the past, the automaker has received R&D and Defense Department spending, including $168 million from a DOD initiative that began in 2000 and two Energy Department grants issued under the Obama administration around electric vehicles and batteries.

Go deeper:

Go deeper

Updated 7 hours ago - World

Mexican President López Obrador tests positive for coronavirus

Mexico's President Andrés Manuel López Obrador during a press conference at National Palace in Mexico City, Mexico, on Wednesday. Photo: Ismael Rosas/Eyepix Group/Barcroft Media via Getty Images

Mexican President Andrés Manuel López Obrador announced Sunday evening that he's tested positive for COVID-19.

Driving the news: López Obrador tweeted that he has mild symptoms and is receiving medical treatment. "As always, I am optimistic," he added. "We will all move forward."

7 hours ago - Politics & Policy

Sarah Huckabee Sanders to run for governor of Arkansas

Sarah Huckabee Sanders at FOX News' studios in New York City in 2019. Photo: Steven Ferdman/Getty Images

Former White House press secretary Sarah Huckabee Sanders will announce Monday that she's running for governor of Arkansas.

The big picture: Sanders was touted as a contender after it was announced she was leaving the Trump administration in June 2019. Then-President Trump tweeted he hoped she would run for governor, adding "she would be fantastic." Sanders is "seen as leader in the polls" in the Republican state, notes the Washington Post's Josh Dawsey, who first reported the news.

Coronavirus has inflamed global inequality

Illustration: Aïda Amer/Axios

History will likely remember the pandemic as the "first time since records began that inequality rose in virtually every country on earth at the same time." That's the verdict from Oxfam's inequality report covering the year 2020 — a terrible year that hit the poorest, hardest across the planet.

Why it matters: The world's poorest were already in a race against time, facing down an existential risk in the form of global climate change. The coronavirus pandemic could set global poverty reduction back as much as a full decade, according to the World Bank.