DETROIT WARNS TRADE REVAMP COULD COST BILLIONS Detroit automakers warn proposed changes to the North American trade deal could add at least…
DETROIT WARNS TRADE REVAMP COULD COST BILLIONS
Detroit automakers warn proposed changes to the North American trade deal could add at least $2B in annual costs per automaker.
Washington wants vehicles to contain at least 50% U.S.-made content to qualify for lower tariffs.
GM ($GM) already expects $2.5B–$3.5B in tariff costs this year, while Ford ($F) estimates a $1B hit.
Automakers argue foreign rivals face lower tariff burdens.