Source: International Business Times
While the implementation of the auto tariffs had been anticipated for weeks, their details surprised US manufacturers AFP The 25 percent tariffs on automobiles announced by President Donald Trump are meant to revitalize American industry, but Detroit's giants were stunned Thursday by their scale and faced a beating on Wall Street. While the implementation of the tariffs had been anticipated for weeks, their details surprised manufacturers and experts as the levies will not only apply to imports of finished vehicles but parts as well. That will be particularly painful because the sector relies on a complex global supply chain, sometimes involving multiple border crossings, with assembly in one country of parts manufactured in others.
