[ad_1]
General Motors warned Friday that another wave of tariffs being considered by the Trump administration could force the company to downsize and cost Americans jobs.
In comments submitted to the Commerce Department, the automaker said that tariffs, if approved, could drive individual vehicle prices up to thousands of dollars, stifling demand.
Last month, President Trump ordered an investigation to determine whether imported cars and auto components could pose sufficient national security risk to guarantee rights up to 25 percent. If it goes ahead, it would intensify a global trade war that has engulfed allies and adversaries. In recent months, the administration has imposed tariffs on imported steel and aluminum, as well as measures targeting China.
The automakers, in particular, were caught in the middle of the commercial brawl. They rely heavily on metals to build their cars, including parts overseas. The president's threat to withdraw from the North American Free Trade Agreement could also hurt the industry's supply chain.
Several other automakers and manufacturers, including the National Association of Builders BMW and Volvo, also have higher import tariffs could lead to a smaller GM, a reduced presence at the home and abroad for this iconic American business, and risk less – no more – American jobs, "General Motors". Motors wrote in his comment.
Tariffs would result in "large-scale trade barriers that increase our overall costs, remove a key means of competing with manufacturers in low-wage countries, and promote a business environment in which we could be
General Motors has drawn attention to other possible consequences, including "less investment, fewer jobs and less" effect of carrying forward an investment lower and a smaller workforce could delay revolutionary technologies and threaten US leadership in the next generation of automotive technology, "wrote the company
." Spokesman, Dayna Hart, stated that the company had no plan of urgency calling for job cuts, but that it was "something that could happen."
"We are still evaluating the Impact. "In his com He has 47 manufacturing facilities, 25 service facilities and 110,000 employees in the United States, where he conducts most of his research and development, design, engineering and development work. other works.
Follow Tiffany Hsu on Twitter: @tiffkhsu
Neal E. Boudette contributed to the report.
[ad_2]
Source link
