Mexican Media Brands
GM: Tariffs Could Lead to a "Smaller GM”
General Motors Co. says hefty import taxes on foreign-made cars will lead to higher prices that could cut domestic production, eliminate jobs, curtail rather than encourage investment and shrink the company.
#economics
Share
General Motors Co. says hefty import taxes on foreign-made cars will lead to higher prices that could cut domestic production, eliminate jobs, curtail rather than encourage investment and shrink the company.
GM submitted its comments to the Dept. of Commerce, which seeks to determine whether imported vehicles threaten national security by undermining the technological abilities of domestic carmakers. President Donald Trump has threatened to use that rationale to impose duties of 20%-25% on imports later this year.
GM says stiff tariffs would reduce its ability to compete in today’s “fast-paced transportation revolution led by cutting-edge technologies.” The company operates 47 factories in the U.S., where it employs 110,000 people but warns that tariffs may lead to a “smaller GM.”
RELATED CONTENT
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.
-
MTU Research to Boost Fuel Economy ~20%
Researchers are using V2X communications and other methods to provide vehicles with a significant increase in fuel economy.