Skip to comments.GM warns import tariffs could lead to a smaller company (Bovine Excrement)
Posted on 06/29/2018 4:06:05 PM PDT by tcrlaf
General Motors on Friday warned that expansive U.S. tariffs on imported vehicles being considered by the Trump administration could lead to a "a smaller GM" and risks isolating U.S. businesses from the global market.
The Trump administration in May launched an investigation into whether imported vehicles posed a national security threat, and U.S. President Donald Trump has repeatedly threatened to quickly impose a 20 percent import tariff on vehicles.
The largest U.S. automaker said in comments filed on Friday with the U.S. 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 U.S. jobs."
GM said the tariffs could hike vehicle prices and reduce sales. Even if automakers opted not to pass on higher costs "this could still lead to less investment, fewer jobs, and lower wages for our employees. The carry-on effect of less investment and a smaller workforce could delay breakthrough technologies."
(Excerpt) Read more at msn.com ...
How dastardly of Trump.
NEWSFLASH: Demand will be as much, possibly MUCH higher when the full effects of producing at home take hold. It's called basic economics.
Of course, all of those billions you invested in Mexican and Chinese Production.... And that is what the whining is really about.
Is Obama telling them what to say ?
The GM/Obama bailout went to the overseas operations. Same BS again here.
Did President Trump implement Tariff’s for steel imported to Mexico?? Because that is where most of their stuff is made.
“two major auto trade groups warned imposing up to 25 percent tariffs on imported vehicles would cost hundreds of thousands of auto jobs”
...in Mexico, Malaysia, and China.
I dont care what government motors has to say. They already sold their soul. I only bought chevy until 2008 and my grandpa was cadillac employee # aprox 300. My grandma worked at detroit deisel during the war. But now.... screw them. My chevy dealer got chosen to be closed...i think he was a republican.
I’ll repeat: tariffs are like shooting yourself in the foot. Just because another country stupidly shoots itself in the foot doesn’t mean you have to.
Only GM could take a beneficial protectionist measure, gut the economic advantage, and ride it to a loss.
Didn’t Mr. Obama gift GM to the unions after the so-called crisis? Fax me a crying towel.
I don’t buy Government Motors (GM) CRAP, and never will. F GM and the Kenyan donkey you rode in on.
Tariffs are a second tier issue for me. I am undecided about them. But trump is nailing it on all my first tier issues, so i will live with it
GM warns import tariffs could or could not lead to a smaller company (Bovine Excrement)
Supreme Court, Baby!
I could be willing to give GM another chance with Trump as President, but they are still making it easy for me to stay out of their dealerships.
GM is not international with production?
And smaller losses carried by the taxpayers?
Maybe GM’s Union can give back what Barry helped them steal from the GM bond holders.
“Ill repeat: tariffs are like shooting yourself in the foot. Just because another country stupidly shoots itself in the foot doesnt mean you have to.”
Very true, but they’re a great negotiating threat ... if you threaten a country with a tariff on your products and they either eliminate or cut their tariff, you win. I think that’s the goal of these tariff threats.
There may unfortunately be some pain for some industries or businesses as we rebuild our country. That’s terrible and I hope no one suffers. But we have to fix this mess we’re in. We cannot continue with these massive trade imbalances and we must start manufacturing again.
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