GM: Trump Tariffs ‘Could Leader to a Smaller GM, a Reduced Presence at Home’

By Sahid Fawaz

General Motors is speaking up about the possible consequences of the Trump tariffs.

Bloomberg reports:

“General Motors Co. issued a stern warning to the Trump administration that it could shrink U.S. operations and cut jobs if tariffs are broadly applied to imported vehicles and auto parts.

‘Increased import tariffs could lead to a smaller GM, a reduced presence at home and abroad for this iconic American company, and risk less — not more — U.S. jobs,’ the nation’s largest automaker said in comments submitted Friday to the Commerce Department.
 
President Donald Trump ordered an investigation of whether auto imports pose national security risks last month under a section of the same 1960s trade law used to impose levies on steel and aluminum. The administration is said to be considering auto tariffs of as much as 25 percent.

The probe has raised alarm among manufacturers, parts suppliers and auto retailers because all major carmakers — including GM and Ford Motor Co. — import a substantial share of the vehicles they sell in the U.S. from other countries. Levies on parts also would have major implications for top models like the Ford F-150 pickup and Toyota Camry sedan by boosting prices by thousands of dollars.”

For the rest of the story, visit Bloomberg here.

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