Automotive officials Thursday blasted President Donald Trump’s proposed tariffs on imported autos and auto parts, with trade groups saying a tax of 25 percent on imports will increase costs on American-made cars as well, resulting in decreased production and jobs losses.
While thanking Trump for his leadership, former Missouri Gov. Matt Blunt, head of the American Auto Policy Council made up of Ford, General Motors and Fiat Chrysler, said the three are “very concerned that the positive effects of the president’s policies could be undermined by tariffs.”
He added that tariffs — if imposed on national security grounds as suggested by Trump — would result in a net loss of jobs “by increasing the costs of manufacturing cars … leading to lower demand, lower sales and production and ultimately fewer jobs in the American auto industry.”
Read the full story here.