Auto Companies, Parts Makers Urge Trump to Abandon Tariffs

The video discusses the ongoing trade tensions, focusing on the impact of tariffs on car manufacturers. It highlights the lobbying efforts by car makers like General Motors, Hyundai, and BMW against US tariffs on imports. The global nature of car manufacturing is emphasized, with many cars being assembled across different countries. The video also explores the situation in China, where tariffs on US-made cars are set to increase, affecting major manufacturers. This could lead to higher consumer prices or absorbed costs by manufacturers.

Which companies are mentioned as opposing tariffs on imports into the USA?

• Toyota and Nissan

• Magna International and General Motors

• Volkswagen and Audi

• Tesla and Ford

Why might General Motors be against tariffs on US imports?

• They only sell cars in the USA.

• They have no international supply chains.

• They rely on a significant portion of their cars being imported.

• They manufacture all their cars in the USA.

What is a key reason for the global nature of car manufacturing?

• Cars are only made in one country.

• Supply chains are simple and localized.

• All car parts are sourced domestically.

• Cars are rarely fully manufactured in a single country.

What significant change is happening with tariffs on US-made cars in China?

• Tariffs are staying the same.

• Tariffs are being reduced to 5%.

• Tariffs are increasing by 25%.

• Tariffs are being eliminated completely.

How might US-built manufacturers respond to increased tariffs in China?

• By increasing exports to other countries.

• By closing factories in the USA.

• By absorbing the tariffs or raising prices.

• By reducing production costs.