US auto groups dire from high tariffs: CNBC
The US' largest automotive groups say higher tariffs on auto parts will jeopardize the country's automotive production, according to a recent CNBC article titled Auto groups lobby Trump administration against parts tariffs in rare unified message.
In a signed letter to the Trump administration, six of the top policy groups representing the US automotive industry lobbied the administration against 25 percent tariffs on auto parts that are set to take effect May 3.
The letter noted that many auto suppliers, which are already "in distress", are not capitalized for an abrupt tariff-induced disruption. "The upcoming levies could jeopardize US automotive production."
The letter, dated April 21, is addressed to US Treasury Secretary Scott Bessent, US Department of Commerce Secretary Howard Lutnick and US Trade Representative Ambassador Jamieson Greer, according to CNBC.
