Global  

Celebrating 10 Years of Trusted News Discovery
One News Page
> > >

Auto execs fret about political uncertainty

Video Credit: Reuters Studio - Duration: 01:42s - Published < > Embed
Auto execs fret about political uncertainty

Auto execs fret about political uncertainty

Auto executives attending the auto show in Detrot say political uncertainty around trade disputes and a government shutdown is costing the industry.

Chris Dignam reports.

0
shares
ShareTweetSavePostSend
 

Auto execs fret about political uncertainty

The world's biggest car-makers and car-lovers have flocked to Detroit this week ... for flashy, new sports cars, trucks and electrified concepts.

But auto executives' attention is on Washington, where they say political uncertainty around trade disputes and a government shutdown ... is costing the industry.

Reuters Editor Ben Klayman is in Detroit.

SOUNDBITE: REUTERS EDITOR BEN KLAYMAN, (ENGLISH) SAYING: "All the automakers have been feeling these trade disputes or tariffs, and what they love most of all is certainty.

Automakers love to plan five years out.

So things like this are very upsetting to them.

Fiat Chrysler's CEO Mike Manley told us that the higher tariffs are going to add like $300 to $500 million dollars to their costs this year.

And GM and Ford have said similar things about their costs.

Last year, all of the automakers talked about an additional one billion dollars in costs each." President Donald Trump's efforts to revamp trade and environmental policies only compounding concern, as forecasters have predicted a slowdown in vehicle demand in the U.S. and China in 2019.

SOUNDBITE: REUTERS EDITOR BEN KLAYMAN, (ENGLISH) SAYING: "They're hit on many levels.

There's the basic stuff like higher steel and aluminum costs - which they would like to get resolved so that those costs will go back down.

But there's even smaller things like the government shutdown for example.

It has barred Fiat Chrysler from getting certification of a new heavy-duty pickup truck." U.S. trade officials are negotiating a new deal with China in hopes of avoiding new tariffs.

At the same time, a new regional trade agreement with Canada and Mexico still needs congressional approval - all of it adding to the uncertainty that automakers hate.




You Might Like


Recent related videos from verified sources

Auto Leaders Urge Trump To End Trade Turmoil & Government Shutdown [Video]Auto Leaders Urge Trump To End Trade Turmoil & Government Shutdown

According to a report by Reuters, on Monday, Auto executives gathered in Detroit called on the Trump administration and Congress to resolve trade disputes and end the government shutdown as political..

Credit: Wochit     Duration: 00:46Published

Auto Industry Calls On Trump Resolve Trade Issues [Video]Auto Industry Calls On Trump Resolve Trade Issues

DETROIT (Reuters) - Auto executives gathered in Detroit on Monday called on the Trump administration and Congress to resolve trade disputes, and end the government shutdown, saying political..

Credit: Wochit     Duration: 01:11Published

Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? Send us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest