US President Donald Trump’s latest protectionist trade plans have sparked fresh concerns for the automotive industry. The controversy surrounds plans to slap a 25% tariff on imported steel and a 10% tariff on aluminium – both key materials in vehicle production. The proposal was casually unveiled by the President during a meeting at the White House with steel and aluminium industry executives. The aim is to protect domestic suppliers and promote national security….
Trump’s steel tariffs could put US players at competitive disadvantage
The automotive industry relies heavily on steel and aluminium. For US manufacturers, proposed hikes on import tariffs could cause serious trouble. By Megan Lampinen