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Trump Metal Tariffs to Make Cars Costlier, Automakers Say

  • Group says affordability preserves vehicle-factory jobs
  • Squeezing car sales may slow progress on safety, fuel economy
Bloomberg business news
How U.S. Steel Tariffs Impact German Automakers
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The Trump administration’s tariffs on steel and aluminum imported from the European Union, Canada and Mexico will make cars more expensive, threaten jobs and slow the adoption of technologies that keep consumers safe and save fuel, automakers’ U.S. trade groups said.

“These tariffs will result in an increase in the price of domestically produced steel -- threatening the industry’s global competitiveness and raising vehicle costs for our customers,” said Gloria Bergquist, a spokeswoman for the Alliance of Automobile Manufacturers, which includes General Motors Co., Toyota Motor Corp. and Volkswagen AG. “Keeping vehicles affordable means higher sales, more auto sector jobs, and faster fleet turnover -- translating into fuel economy gains and safety improvements.”