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President Barack Obama is credited with helping bail out the auto industry, which bounced back from the Great Recession.
Now, Donald Trump’s presidency is raising questions about the impact it will have on the Motor City.
Donald Trump at the Detroit Economic Club
Michael Wayland , Melissa Burden and Keith Laing of The Detroit News report:
Donald Trump's election to the president is expected to have a profound impact on the U.S. automotive industry — from potentially killing trade deals to shaking confidence of car buyers.
Experts say it’s too soon to understand the far-reaching effect of the billionaire businessman becoming commander-in-chief, but some are concerned that his brash campaign promises of building walls, axing trade deals and imposing high tariffs on automobiles imported to the U.S. could cause short-term sales declines and long-term implications on the global industry.
“We just don’t know how consumers — particularly Clinton supporters — are going to react,” said Charles Chesbrough, senior economist and executive director of strategy and research at the Original Equipment Suppliers Association. “I can’t imagine anybody going out and buying a car over this weekend.”
