Auto Manufacturers Believe Metal Tariffs Will Make Cars More Expensive
Posted on Jun 3, 2018 in Uncategorized | Comments Off on Auto Manufacturers Believe Metal Tariffs Will Make Cars More Expensive
The proposed tariffs on steel and aluminum imported from the EU, Canada and Mexico will make cars more expensive, threaten jobs and slow the adoption of technologies that keep consumers safe and save fuel, US automaker trade groups said.
While automakers purchase most of their steel and aluminum for US plants from domestic producers, the alliance said the tariffs will drive up prices of metals whether they are made in America or imported. GM and Ford Motor Company both have said that costlier raw materials will result in significant profit headwinds this year.
