admin June 29, 2018


General Motors is warning the Trump administration that a proposed tariff could force the company to cut jobs and raise the price of cars, perhaps by thousands of dollars.

The warning came in a filing Friday with the Commerce Department.

The administration is considering a tariff on imported cars and car parts. GM (GM) imports parts for cars that it makes in the United States. It also imports some cars to sell in the United States.

“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,” GM said in the filing.

Related: How Europe could fight back if Trump taxes car imports

Combined with existing steel and aluminum tariffs, and tariffs on Chinese imports, “the threat of additional tariffs on automobile imports could be detrimental to our company,” the company said.

It warned that an auto tariff would probably raise the cost of making some cars by thousands of dollars.

“At some point, this tariff impact will be felt by customers,” the company said.

CNNMoney (New York) First published June 29, 2018: 4:38 PM ET



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