PressTV-General Motors warns Trump tariffs risk US jobs

General Motors Company, America’s largest automobile manufacturer, has warned that higher tariffs on imported vehicles under consideration by the administration of President Donald Trump could cost US jobs while isolating American businesses from the global market.

In comments filed with the US Commerce Department on Friday, GM said that overly broad tariffs could “lead to a smaller GM, a reduced presence at home and abroad for this iconic American company, and risk less — not more — US jobs.”

Higher tariffs could also hike vehicle prices and reduce sales, GM said.

Its comments echoed those from two major US auto trade groups on Wednesday, when they warned that tariffs of up to 25 percent on imported vehicles would cost hundreds of thousands of auto jobs, dramatically raise prices on vehicles and threaten industry spending on self-driving cars.

GM operates 47 US manufacturing facilities and employs about 110,000 people in the…

Read more