DETROIT, MI (MPRN)-- Republican members of the U.S. Senate are blasting the Trump Administration for tariffs lawmakers claim will hit Michigan’s auto industry hard.
President Trump placed tariffs on aluminum and steel, and is weighing additional taxes on vehicles and parts, ostensibly to force automakers and suppliers to build products in the U.S.
But members of the U.S. Senate Finance Committee cite estimates that new auto tariffs could cause a $73 billion increase in U.S. business taxes and cost almost 200,000 jobs.
The head of Honda’s North American branch said at a finance committee hearing that recent tariffs have already caused a significant rise in the price of steel made in the U.S.