Automakers Breathe Sigh of Relief as Trump Delays U.S. Tariff on Autos, Parts by Up to Six Months

SUGAR LAND--May 20, 2019--Researched by Industrial Info Resources (Sugar Land, Texas)--On Friday, President Donald Trump announced that he would delay proposed tariffs on imported automobiles and automobile parts by up to six months as the U.S. negotiates trade deals with Europe and Japan. Most automotive companies, both in the U.S. and abroad, have been opposed to the tariffs, saying they would inevitably have to pass higher expenses on to the consumer in the form of increased prices, which would lower unit sales. The tariffs would affect not only imports of automobiles produced outside the U.S, but also those produced in the U.S. that use parts manufactured in other countries, which is why domestic manufacturers have spoken out against them. Among the U.S. regions that could be most affected are the Great Lakes region, home to most of the U.S.-based manufacturers, and the Southeast, where many foreign manufacturers have set up shop. Industrial Info is tracking more than $270 billion in automotive-related projects throughout the world, including $35.3 billion in the U.S. and $36.3 billion in Europe.

Within this article: Details of companies that could be affected by a U.S. tariff on automobiles and parts