(From The Guardian)
General Motors warned on Friday that expansive US tariffs on imported vehicles being considered by the Trump administration could lead to “a smaller GM” and risks isolating US businesses from the global market.
The car giant – which employs 180,000 people worldwide – became the second famous US brand this week to warn of the dangers of Trump’s escalating trade dispute. This week Harley-Davidson said the levies would force it to relocate some production overseas – a warning that drew a furious response from Donald Trump.
The Trump administration launched an investigation into whether imported vehicles posed a national security threat in May, and Trump has repeatedly threatened to quickly impose a 20% import tariff on vehicles.
The largest US automaker said in comments filed on Friday with the US commerce department that overly broad tariffs could “lead to a smaller GM, a reduced presence at home and abroad for this iconic American company, and risk less – not more – US jobs”. . . .
Toyota filed separate comments opposing the tariffs on Friday saying they would “threaten US manufacturing, jobs, exports, and economic prosperity”.