US automakers and manufacturers have cautioned that President Donald Trump’s insistence on imposing major tariffs on imported automobiles may lead to rising unemployment and harm the nation’s economy.
Business groups from across the US forwarded comments in the past week to the Commerce Department, which is investigating whether Section 232 tariffs should apply to imports of cars and auto parts in the interest of national security, local news outlets reported Saturday.
The National Foreign Trade Council (NFTC) declared that auto tariffs will increase costs for US automakers, which will eventually impact American customers.
NFTC President Rufus Yerxa further stated that the tariffs will make it almost impossible for US manufacturers to sell their vehicles overseas due to retaliatory tariffs from other nations, the Washington-based The Hill reported Saturday.
“Today, NFTC joined the US auto industry in opposing new tariff barriers on…