GM, Toyota warn of job cuts if Trump imposes auto tariffs
GM, Toyota warn of job cuts if Trump imposes auto tariffs2010 photo by PATRICIA BECK/Detroit Free PressJamie L. LaReau | Detroit Free PressIn a stern warning to the U.S. government, General Motors said Friday it would have to slash jobs if the Trump administration expands U.S. tariffs on imported vehicles. Trump has threatened a 25 percent tax on imported cars and car parts. Likewise, Toyota also filed comments Thursday saying tariffs would increase its costs to build cars at its manufacturing plants in the U.S. and undermine U.S. national security. It gave, as example, the Toyota Camry sedan, built in Kentucky but about a third of its parts are imported. "General Motors and Toyota were unusually vocal about the impact on the threatened tariffs," said Michelle Krebs, executive analyst for AutoTrader in Detroit.Toyota Could Kill Off Some U.S. Models If Trump Enforces Tariffs
according to Toyota might stop importing select models into the United States if President Donald Trump follows through on his threats to raise vehicle tariffs, Bloomberg reports. According to chief executive of Toyota's North American operations, Jim Lentz, the automaker is analyzing how tariffs could affect each of its models. Toyota's most popular model, the RAV4, is imported into the United States from China and Canada. Additionally, Canada also supplies 95 per cent of the Lexus RX models sold in the U.S.A host of models are built and sold in the United States in high numbers. Nonetheless, potential tariffs are a matter of critical importance to Toyota and Lentz admitted that the carmaker may have to produce additional models in the United States.collected by :Edison Noah