The Trump administration’s proposal to impose tariffs as high as 25 percent on imported cars under the guise of boosting national security has been met with stiff opposition from the auto industry. Such levies, they warned, would result in higher car prices and industry-wide job losses.
“Simply put, auto tariffs are a massive tax on consumers,” Jennifer Thomas, vice president of federal affairs at the Washington-based Alliance of Automobile Manufacturers said. “Industry analyses show that a 25 percent tariff would raise the price of an imported car nearly $6,000 and the price of a U.S.-built car $2,000. When vehicle prices rise, demand drops. Lower demand means less production. And when production declines, job losses follow.”
Read the article at The Detroit News.