" The threat of steep tariffs on vehicle and auto parts imports risks undermining GM's competitiveness against foreign auto makers by planting wide trade barriers, which increase our global costs, eliminate an important means of competing with manufacturers in low-wage countries and promote a trading environment where we could be repulsed in other markets. "
Motorcycle manufacturer Harley-Davidson said earlier this week that new tariffs coming from Europe for certain Ind imported goods will cause a "huge increase in costs" that the company has to shoulder. It also said it would try to postpone the production of Europe-bound bicycles outside the US.
The new EU tariffs are a retaliatory measure for US taxes on imported steel and aluminum issued earlier this year. China has also responded by taxing imports from the US. Experts have warned that a wholesale trade war could kill hundreds of thousands of American jobs, while prices increase consumers' goods across the board.
"Combined with the other trade measures currently being pursued by the US government – namely the 232 steel and aluminum tariffs and the Section 301 tariffs against Chinese imports – the risk of additional tariffs on car imports could harm our company "GM said. "At some point, this customs effect will be perceived by the customers."