Tariffs might force GM into job cuts

The General Motors Canada office in Oshawa Ont

The General Motors Canada office in Oshawa Ont

The Association of Global Automakers, an industry group that represents worldwide automakers including Toyota, Volkswagen AG and BMW AG, said in a separate filing that "there is no support" for the idea that the import of vehicles and auto parts threaten the economic health of the USA auto industry.

Global Automakers, which represents auto giants like Honda, Subaru and Toyota, blasted the Trump administration's investigation, saying that the Commerce Department has not spelled out its theory for how imported cars and trucks "are relevant to USA national security".

"Increased import tariffs could lead to a smaller GM, a reduced presence at home and overseas for this iconic American company, and risk less - not more - U.S.jobs", GM said in a submission to the U.S. Department of Commerce that was published Friday.

"Imported vehicles do not threaten the United States national security", JAMA said.

Commerce Secretary Wilbur Ross intends to complete its investigation into the vehicle import tariff under section 232 of the Trade Expansion Act by late July or August. The "hardest hit" vehicles, General Motors said in comments submitted to the Commerce Department, are often bought by consumers who can least afford it. Demand would suffer and production would slow, all of which "could lead to a smaller GM". Harley-Davidson (HOG) experienced that this week with its plan to dodge the European Union's 25% tariff, levied in retaliation for Trump's steel and aluminum tariffs. The administration has indicated that tariffs on autos, steel, and other products are in the interest of national security.

Although GM remains committed to the American market, where it operates 47 manufacturing facilities and 25 service part facilities, employing over 100,000 Americans, tariffs undermine the automaker's ability to compete globally.

"Toyota shares the Administration's goals of increasing U.S.jobs, growing the economy and strengthening national security", the automaker said.

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So did the Democrats Kirsten Gillibrand of NY and Edward Markey of MA . The demonstrators were taken into custody by Capitol Police.

Navarro added that Trump, having passed a tax cut that helps companies like GM and Harley, "felt betrayed" when they then threatened to move production jobs outside the United States in response to the retaliatory actions of foreign countries to Trump's tariffs.

GM said the tariffs could raise vehicle prices and reduce sales.

"The overbroad and steep application of import tariffs on our trading partners risks isolating U.S. businesses like GM from the global market that helps to preserve and grow our strength here at home", GM said.

Last year, the United States exported 2 million automobiles but, Yerxa said, that number can grow if the government focuses on opening foreign markets "instead of raising barriers and costs here at home". That same day, the largest nail manufacturer in the U.S.

The automaker suggests the costs of such import tariffs will be passed on to US consumers, depressing demand for cars and the vehicle market in general.

Among the USA vehicles that GM builds overseas are the Buick Cascada, which is assembled in Poland, and the German-made Buick Regal.

In comments to the commerce department, it also said weakening South Korea's Hyundai would ultimately hurt Trump's effort to halt North Korea's nuclear ambitions. Detroit's "Big Three" and other manufacturers, including BMW and Mercedes-Benz, export vehicles from USA factories to overseas markets.

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