GM WARNS: Trump's tariffs undermine our ability to compete (GM)

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General Motors warned Friday that new car rates would undermine its ability to compete. </strong></li> <li><strong> Shares of the largest US automaker fell 2% after comments were filed. </strong></li> <li><strong> "At some point, this price impact will be felt by customers," the company said in a file filed with the US Department of Commerce. </strong></li> <li><strong> Follow the course of GM action in real time here. </strong></li> </ul> <hr/> <p><!-- sh_cad_2 --></p> <p> General Motors fell 2% on Friday after warning that US tariffs on imported vehicles, currently being considered by the White House, could "jeopardize" its global competitiveness. <!-- sh_cad_3 --></p> <p> In a filing with the US Department of Commerce, the country's largest automaker said any new tax could result in a decrease in business and increased costs for consumers. "The threat of high tariffs on imports of vehicles and automotive components could compromise GM's competitiveness with foreign car manufacturers by building US and foreign companies," he added. general 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 retaliate in other markets. "<!-- sh_cad_6 --> </p> <p> -Davidson said earlier this week that new tariffs imposed by Europe on certain manufactured products will result in a" significant increase in costs "that the company will have to shoulder. He also stated that 39, he would seek to move bicycle manufacturing to European destinations outside the United States. <!-- sh_cad_7 --> </p> <p> The new EU tariffs came in retaliation for US taxes on imported steel and oil. Aluminum adopted earlier this year China also reacted by taxing imports from the US Experts warned that a widespread trade war could kill hundreds of thousands of US jobs while by increasing the prices that consumers pay for all goods. <!-- sh_cad_8 --> </p> <p> "Combined with other commercial actions currently being conducted by the US Government" The tariffs for steel and aluminum and the tariffs of Section 301 against Chinese imports could be detrimental to our business, "GM said. "At some point, this price impact will be felt by customers." <!-- sh_cad_9 --> </p> <p> <img decoding= Markets Insider

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