DETROIT (AP) — President Donald Trump’s trade wars threaten to claim a casualty on the home front: the American auto industry.
If the president goes ahead with 25% taxes on imports from Canada and Mexico on Tuesday, he will disrupt more than $300 billion in annual U.S. automotive trade with its two neighbors, wreck supply chains that have been operating for decades and likely push up the already-forbidding price of new cars.
The tariffs pose an “existential’’ threat to North American auto production, said David Gantz, a fellow at Rice University’s Baker Institute for Public Policy. They will push up “the cost of everything that’s imported from Mexico or Canada that
→ Continue reading at The Associated Press
