Economy, Auto
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GM Says US Tariffs Bad for Business

GM Says US Tariffs Bad for BusinessGM Says US Tariffs Bad for Business

General Motors Co warned on Friday that higher tariffs on imported vehicles under consideration by the Trump administration could cost jobs and lead to “a smaller GM” while isolating US businesses from the global market. The administration in May launched an investigation into whether imported vehicles pose a national security threat, and US President Donald Trump has repeatedly threatened to impose a 20% vehicle import tariff, Reuters reported. The largest US automaker said in comments filed with the US Commerce Department that overly broad tariffs could “lead to a smaller GM, a reduced presence at home and abroad for this iconic American company, and risk less—not more—US jobs.” Higher tariffs could also hike vehicle prices and reduce sales, GM said. Its comments echoed those from two major US auto trade groups on Wednesday, when they warned that tariffs of up to 25% on imported vehicles would cost hundreds of thousands of auto jobs, dramatically raise prices on vehicles and threaten industry spending on self-driving cars.

 

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