BMW, Hyundai, GM Urge US Not to Impose Tariffs
July 3, 2018—BMW, Hyundai and GM urge the U.S. not to impose tariffs on auto imports, reported the Los Angeles Times.
Hyundai said the duties would jeopardize its plans to expand manufacturing in the U.S., according to the report. GM said the import tariffs could lead to a smaller GM, a reduced presence at home and risk less U.S. jobs.
In Sunday’s interview with Fox, President Trump said the tariffs are needed in part because of the European Union’s barriers to U.S.-built vehicles. “The European Union is possibly as bad as China, just smaller,” Trump said. “They send a Mercedes in, we can’t send our cars in.”
According to the report, Trump told reporters aboard Air Force One on Friday afternoon that he expected the Commerce Department to complete the investigation “in three or four weeks.”