GM Will Eventually Feel Effect of Trade Uncertainty: Barra

GM CEO Mary Barra says that the automaker will eventually be impacted by uncertainties around trade and tariffs in the US.

Speaking before the company’s annual shareholder meeting, Bara said that “there’s a lot of moving pieces in trade and the auto industry is exceptionally complex. I think we need to let the negotiations continue and be completed, and then to see the impact.”

The company is seeing increased costs for steel and aluminum with the new tariffs President Trump has imposed on those materiels. Barra said that if the uncertainty continues it “will eventually” have an impact on company operations, although it hasn’t yet lead to them delaying projects or plans.

Barra also said that the company is closely watching what the administration is doing, to see if more levies will be put on vehicle imports, which could further raise costs. The 25 percent tariff on imported steel and 10 percent on aluminum went into effect earlier this year, and include imports from Canada, Mexico, and the EU.

[source: Automotive News]

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