The largest U.S. automotive groups warn that new tariffs on auto parts could cost billions, disrupt the global supply chain, raise consumer prices, and reduce sales, jeopardizing 10 million jobs and a $1.2 trillion economic impact. In a letter to the Trump administration, industry leaders expressed concerns about potential production stoppages, layoffs, and bankruptcies due to tariff-induced disruptions. While praising the administration’s willingness to reconsider the tariffs, they cautioned that their implementation could significantly harm the industry, already affected by previous tariffs.

Source: https://www.supplychaindive.com/news/automotive-groups-letter-trump-administration-tariffs/746152/