How Car Companies Are Blasting Trump's Import Investigation
- Manufacturers, parts makers warn of job cuts, big cost burden
- Administration is said to be considering tariffs of up to 25%
Workers assemble a motor during production of a Volvo AB S60 sedan at the Volvo Cars USA plant in Ridgeville, South Carolina, on June 20.
Photographer: Logan Cyrus/BloombergThis article is for subscribers only.
Two words sum up how auto companies are portraying the future if the Trump administration determines that car imports are a national security threat and slaps imported vehicles and parts with tariffs: doom and gloom.
The U.S. Commerce Department started conducting the investigation in late May at the behest of President Donald Trump, whose administration is said to be considering tariffs of as much as 25 percent.