ALEXANDRIA, Va. — The American International Automobile Dealers Association (AIADA) expressed opposition to President Donald Trump’s plan to place a 25% tariff on steel and a 10% tariff on aluminum imports.
Both metals are crucial to the production of cars and trucks sold in America today and would raise the sale prices of those vehicles substantially. In addition to paying more for their vehicles, American consumers and workers can also expect to bear the brunt of the retaliatory tariffs other countries will almost certainly place on goods manufactured and exported from the United States, said AIADA President and CEO Cody Lusk.
“These proposed tariffs on steel and aluminum imports couldn’t come at a worse time,” Lusk said. “Auto sales have flattened in recent months, and manufacturers are not prepared to absorb a sharp increase in the cost to build cars and trucks in America. The burden of these tariffs, as always, will be passed on to the American consumer. Car shoppers looking for a deal will instead find that they are paying a new tax to transport themselves and their families.”
Steel and aluminum tariffs could directly counteract any benefits American manufacturers have seen from tax and regulatory reform. An analysis of tariffs on steel imposed in 2002 found that the Bush steel tariffs cost 200,000 jobs, including 30,000 in Michigan, Ohio and Pennsylvania alone, Lusk added.
This is a developing story. Stay tuned to F&I and Showroom and Auto Dealer Today for updates.
Originally posted on F&I and Showroom