General Motors and Other Car Companies Warn About Increased Car Prices

U.S. tariffs on imported vehicles has many car companies warning that they will mean increased car prices for Americans.

General Motors warned that the tariffs could even lead to a “smaller GM” and that the tariffs could isolate U.S. companies from the global market.

The company stated the 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.”

It was in May that President Trump asked for an investigation into whether imported vehicles posed a national security threat. The investigation is supposed to be completed sometime soon.

Toyota has also said, “A hundred and thirty-seven thousand Americans support their families working for Toyota, and Toyota and Lexus dealerships. They are not a national security threat. Indeed, Toyota operates 10 manufacturing plants in the U.S. We are an exemplar of the manufacturing might of America.”

The company has said its Toyota Camry price would rise $1,800 as a result.

Mazda also recently chimed in and said, “A tariff is a tax and it will be paid by American consumers. It will significantly increase the cost of every new vehicle sold in America, regardless of where it is built. As Mazda begins construction of our new auto factory in Huntsville, Alabama, we urge the Commerce
Department to reject the premise that auto imports are a threat to national security.”

Trump has tweeted, “Based on the Tariffs and Trade Barriers long placed on the U.S. and it great companies and workers by the European Union, if these Tariffs and Barriers are not soon broken down and removed, we will be placing a 20% Tariff on all of their cars coming into the U.S. Build them here!