American Automakers Poised to be Hurt by Upcoming Tariffs

Although there have been some incredible gains in the auto industry insofar as recent sales surges have been concerned, American auto manufacturers like GM, Ford, and Chrysler are more than worried that the proposed tariffs by the executive branch may have incredibly detrimental effects on the domestic auto industry. Worse is that those problems would then be on the workers’ shoulders, meaning there may be impending layoffs coming soon that are unavoidable.   Automakers have been reaping a windfall from a strong economy and sales of big, profitable vehicles for the last several years. But the profit bonanza may be coming to an abrupt end amid concerns about escalating costs stemming from a global trade dispute. And consumers may have to pay the bill in the form of higher prices. President Donald Trump's sudden imposition of steel and aluminum tariffs and the possibility of tariffs on imported and exported vehicles threaten to undermine the industry's finances and increase prices for consumers. His tariff threats have drawn support from the United Auto Workers union, which represents hourly U.S. workers for GM, Ford and Fiat Chrysler, and from U.S. steel companies. Click Here to Continue Reading

American Automakers Poised to be Hurt by Upcoming Tariffs was first published to CarDaddy's Blog

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