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Trump Trade Disputes Put Automakers in Crosshairs

U.S. auto buyers could face substantially higher prices; industry profits could tumble.

by on Apr.04, 2018

President Donald Trump could be hearing rumbles from the auto industry over his trade policies.

Wall Street investors aren’t the only ones growing worried about Pres. Donald Trump’s increasingly aggressive actions on international trade. Finding themselves in the crosshairs of a potential trade war, automakers are also sounding the alarm.

“We are not in a trade war with China, that war was lost many years ago by the foolish, or incompetent, people who represented the U.S.,” the president tweeted this week, ahead of announcing $50 billion in tariffs on Chinese-made goods. The move quickly was mirrored by tariffs announced by China.

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The tit-for-tat trade battle could lead to serious problems for a number of industries, including aerospace, agriculture and chip manufacturers – as well as the auto industry. Carmakers are also fretting over the president’s increasingly confrontational tone over NAFTA, trade with Europe and new tariffs on imported steel and aluminum.

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