Auto Tariffs Are the ‘Final Step to Economic Disaster,’ Linamar CEO Says
- Levies would make 2009 crisis ‘look like a walk in the park’
- Canada reportedly preparing further tariffs on steel imports
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The North American auto industry is facing a crisis “that will make 2009 look like a walk in the park” if the U.S. imposes tariffs on vehicles and parts, says Linda Hasenfratz, chief executive officer of Canadian supplier Linamar Corp.
President Donald Trump last month ordered an investigation into whether auto imports pose a national security threat, potentially resulting in tariffs of up to 25 percent. The tariffs would be “unbearable” when added to existing levies on steel and aluminum, Hasenfratz said in an email Wednesday.