Trade organizations representing Class 8 truck and engine manufacturers, among others, have sent a letter to President Trump warning that new tariffs on imports of automobiles and parts could harm the U.S. economy, jeopardize jobs and hurt the manufacturing sector.
“Implementing these tariffs threatens the jobs of millions of American workers and would likely result in the loss of billions of dollars to the U.S. economy,” the groups wrote.
Signatories include the Association of Equipment Manufacturers (AEM), Truck & Engine Manufacturers Association (TEMA), Associated Equipment Distributors (AED), the Heavy Duty Manufacturers Association (HDMA), the American Bus Association (ABA), the Remanufacturing Industries Council, the American Rental Association (ARA) and the National Marine Manufacturers Association (NMMA).
Trump last week said he was considering imposing new tariffs on auto and parts imports from Mexico if the country “for any reason…stops apprehending and bringing the illegals back to where they came from.” Trump posited a tariff rate of 25 percent.
The manufacturer groups, however, say that the tariffs “pose a serious economic threat to our nation’s whole economy and the well-being of our manufacturers, dealers, employees and customers.”
“Any remedy proposing quotas or tariffs would undermine the benefits of tax and regulatory reform and must not be implemented,” the letter states.