Trump's 25% Tariff On Imported Vehicles Could Shatter Detroit's Auto Economy, Warns Business Leaders: 'It Will Hurt Hardworking Americans'

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What Happened: The Detroit Regional Chamber and MichAuto urged the administration on Monday in a letter to halt the tariffs set to take effect on Thursday, cautioning they would cause “significant price increases” for American consumers and “profound” pain in Michigan, where one in five jobs is automotive-related.“The tariff policies proposed will increase prices, drive down consumer demand, and therefore, lower the profitability of our companies, directly impacting the hardworking Americans ...

Two major Michigan business organizations have warned that President Donald Trump‘s planned 25% tariffs on imported vehicles and parts would severely damage the state’s auto-dependent economy and harm the working class.

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Author / Journalist: Kaustubh Bagalkote

Category: Technology

Markets: United States

Topics: US37045V1008 GM TSLA Donald Trump US3453708600 USY384721251 Equities STLA TM US8923313071 News Benzinga US88160R1014 Markets Mobility Tech F HYMTF

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-01 @ 07:22:31 (1 days ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 352 words

Reading Time: 2 minutes read

Sentences: 15 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 27508407

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