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Experts say auto tariffs would raise prices, cost jobs
DETROIT (AP) — Every workday, about 7,400 trucks mostly loaded with automotive parts rumble across the Ambassador Bridge connecting Detroit and Canada, at times snarling traffic along the busy corridor.
But if President Donald Trump delivers on threats to slap 25 percent tariffs on imported vehicles and components, there will be far fewer big rigs heading to factories that are now humming close to capacity on both sides of the border.
The tariff threat could be a negotiating ploy to restart stalled talks on the North American Free Trade Agreement. But it also could be real, since the administration already has imposed duties on $50 billion worth of Chinese imports, as well as steel and aluminum from China, the European Union, Canada and Mexico.
Tariffs against China include some autos and parts but if those spread to Canada and Mexico, the impact will be far larger because auto manufacturing has been integrated between the three countries for nearly a quarter century.
But if President Donald Trump delivers on threats to slap 25 percent tariffs on imported vehicles and components, there will be far fewer big rigs heading to factories that are now humming close to capacity on both sides of the border.
The tariff threat could be a negotiating ploy to restart stalled talks on the North American Free Trade Agreement. But it also could be real, since the administration already has imposed duties on $50 billion worth of Chinese imports, as well as steel and aluminum from China, the European Union, Canada and Mexico.
Tariffs against China include some autos and parts but if those spread to Canada and Mexico, the impact will be far larger because auto manufacturing has been integrated between the three countries for nearly a quarter century.
https://www.seattletimes.com/business/apxexperts-say-auto-tariffs-would-raise-prices-cost-jobs-2/