President Donald Trump (Deposit Photos)
Donald Trump (Deposit Photos)
President Donald Trump may be talking tough these days about tariffs, but the auto industry is neither impressed, nor happy.
Auto industry analysts say the president simply doesn't get it when he advocates a major import tax on imported trucks, cars and auto parts, reports Phoebe Wall Howard of the Detroit Free Press.
They say his call for tariffs reflects a lack of understanding of the intricacy of the auto supply chain, and expressed alarm at Trump's move Wednesday to order a Commerce Department investigation of the possibility, the Freep reports. A lot of cars and parts are imported to the U.S., which means American consumers will pay more.
John Bozzella, CEO of the Association of Global Automakers, tells the Freep it's “a bad day for American consumers."
"The U.S. auto industry is thriving and growing," he said. "Thirteen, soon to be 14 companies, produced nearly 12 million cars and trucks in America last year. To our knowledge, no one is asking for this protection. This path leads inevitably to fewer choices and higher prices for cars and trucks in America.”
