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General Motors says higher tariffs on imported vehicles being considered by the current administration could make GM "smaller" and isolate US companies from the global market.
TOWN OF MEXICO (Reuters) –
General Motors warned Friday that higher tariffs on imported vehicles under the Trump administration could cost jobs and make a GM "smaller" while isolating US business in the global market
US President Donald Trump launched in May an investigation into whether imported vehicles are threatening national security and has repeatedly threatened to impose a 20% tariff on United States vehicles.
Read: GM says US tariffs are already increasing costs
The largest US automaker said in comments submitted to the US Department of Commerce that tariffs too high could "lead to a smaller GM, a reduced presence both at home and abroad for the iconic company" in addition to "U Jobs General Motors said:
GM operates 47 factories manufacturing in the United States and employs approximately 110,000 people in the United States, buys annual auto parts for billions of dollars from domestic suppliers and has invested more than $ 22,000 million in mining operations in the United States. US factories since 2009.
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