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Auto groups warn US tariffs could cost many jobs
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China Daily > HomePage
WASHINGTON - Two major auto trade groups on Wednesday warned the Trump administration that imposing up to 25 percent tariffs on imported vehicles would cost hundreds of thousands of auto jobs, dramatically increase prices on vehicles and threaten industry spending on self-driving cars.
The administration in May launched an investigation into whether imported vehicles pose a national security threat, and US President Donald Trump has repeatedly threatened to quickly impose tariffs.
The group added: "Rather than creating jobs, these tariffs would result in the loss of hundreds of thousands of American jobs producing and selling cars, SUVs, trucks and auto parts."
Toyota said in a statement Wednesday that new tariffs "would increase the cost of every vehicle sold in the country".
The automaker said the tariffs would mean even a Toyota Camry built in Kentucky "would face $1,800 in increased costs".
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