GM warns that Trump tariffs could force US job cuts

The New York Post ^ | June 29, 2018 | By Bob Fredericks

[TBP]

General Motors warned Friday that President Trump’s threatened tariffs on imported vehicles could lead to “a smaller GM,” isolate US businesses from the global marketplace and cause job losses.

“Increased import tariffs could lead to a smaller GM, a reduced presence at home and abroad for this iconic American company, and risk less — not more — US jobs,” the Detroit-based automaker said in comments filed with the Commerce Department, The Street reported.

“Combined with the other trade actions currently being pursued by the US Government — namely the Section 232 Steel and Aluminum tariffs and the Section 301 tariffs against Chinese imports — the threat of additional tariffs on automobile imports could be detrimental to our company. At some point, this tariff impact will be felt by customers,” GM said.

[TBP]

Tariffs are taxes. Here is a major American employer saying that tariffs will reduce the number of jobs at their company. This could undo some of the good the tax cuts have done.

[Jeff Chandler]

[Governor Dinwiddie]

If GM built cars people wanted, there wouldn't be a problem.
 

[ColdOne]

You forgot the fainting couch!!!

[MUDDOG]

It depends on what the big picture is.

Here’s what I think the the big picture is:

Ever since WW2, the US gov’t has sacrificed US economic interests in the furtherance of geopolitical goals. We’ve let other countries fleece us economically, in order to be the leader of “the Free World” (quote marks because it’s not so free when look at the political correctness and bureaucratic dictatorship in the EU these days!)

Trump realizes this. He’s trying to level the playing field for the US and not let us be taken advantage of anymore. He’s trying to roll back decades of our domestic economic interests being subservient to global political goals.

He can’t do it overnight, and it involves economic dislocations to put things right, but he’s giving it his best “art of the deal” effort, and he’s fully aware of the trade-offs and difficulties involved.

[gov_bean_ counter]

How about, GM’s piss poor business practices and crappy cars could cost GM workers their jobs.

[butlerweave]

Everywhere I go I see Hyundai

[Senator_Blutarski]

So GM is hurt, but Ford is OK?

Government Motors has problems larger than the tariffs.

[Jeff Chandler]

If GM built cars people wanted, there wouldn't be a problem.

I've owned wonderful GM cars and trucks over the years, but I've always been careful to pick the better quality models out of their line-up.

[Jeff Chandler]

Everywhere I go I see Hyundai

SIL drives a Hyundai Genesis Coupe 3.8 R-Spec. Daughter gives me the keys and asks me to pick up lunch (she was watching toddlers.)

Fast-forward to next day: SIL asks daughter why the fuel mileage gauge indicated such low mileage.

That's a fun car!

[TBP]

I’ve had a number of GM cars. I don’t think they’re crappy. I think they’re pretty good. I loved my Saturn Aura.

[TwelveOfTwenty]

GM couldn't be doing a better job of keeping me out of their dealerships if that was what they were trying to do.

And I say that as a former satisfied GM owner who believes in buying American.

[wastedyears]

So tariffs on foreign products is going to cause an American company building cars here to have to downsize? What?

[TBP]

they’re saying. They use imported products in their American-made product. The tariffs will force them to raise prices and/or reduce output (and therefore labor.)

[Bishop_Malachi]

“Increased import tariffs could lead to a smaller GM, a reduced presence at home...”

_______________________________________________________

Wait...what? He’s making U.S. markets even less competitive in favor of your products and you’re still whining?

[Redleg Duke]

I do not trust anything out of government motors!

[Bishop_Malachi]

They use imported products in their American-made product.

______________________________________________________

Well well, now we have a list of new products in which domestic entrepreneurs can invest. Time to start creating new jobs here at home making these items.

[wastedyears]

Maybe they should be 100% made in America.

[Last Dakotan]

Large US companies are collectively suffering from Stockholm Syndrome.

At less I think they are US companies. General Motors probably doesn't think of itself as a US company any more than Toyota does. Probably less.

[Flaming Conservative]

I’m no economist, but I know enough about the art of the deal, to know it will work in our favor. President Trump is showing the rest of the world, that we’re done being taken advantage of. When THEY back down and become reasonable, he’ll make the deal that’s best for us. They all know they’ve been making fools of us for years, and we now have a president who will NOT allow that to continue. They’re realists; they know they’ve made their pile off of us, and the party’s OVER.