In response to the Trump Administration’s requested study, General Motors sent a letter complaining that further tariffs on imported auto parts and materials could result in higher car prices and, ultimately, a smaller GM.
As GM alludes to in its letter, the threat of more tariffs comes at a sensitive time for the company. Half of the cars on the road will be electric by 2030, estimates show.
“The auto industry also happens to be in the midst of a fast-paced transportation revolution led by cutting-edge technologies that promise to redefine the industry as we know it,” the letter reads. “If U.S. auto companies are to lead in this space—as we currently are—we absolutely must rely on our existing strengths and invest resources accordingly.”
Read the article at Fast Company.
