WASHINGTON (Reuters) – A group representing General Motors Toyota, Volkswagen and other major automakers warned new 25% tariffs President Donald Trump plans to impose next week on imported vehicles will hurt U.S. consumers. “Additional tariffs will increase costs on American consumers, lower the total number of vehicles sold inside the U.S. and reduce U.S. auto […]
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Automakers warn new Trump tariffs will boost costs, cut vehicle sales
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WASHINGTON (Reuters) – A group representing General Motors Toyota, Volkswagen and other major automakers warned new 25% tariffs President Donald Trump plans to impose next week on imported vehicles will hurt U.S. consumers.
“Additional tariffs will increase costs on American consumers, lower the total number of vehicles sold inside the U.S. and reduce U.S. auto exports – all before any new manufacturing or jobs are created in this country,” said Alliance for Automotive Innovation John Bozzella in a statement. The group represents every major automaker.
(Reporting by David Shepardson)