If Trump’s tariffs continue

 

What would happen if trump proceeds with his tariffs? According to experts:

  • Trump’s threat to impose 25 per cent tariffs on auto imports from Canada would devastate the integrated supply chain that has taken decades to build and cause job losses on both sides of the border.
  • Shifting tool lines to the United States would be so complicated it could take many months if it can be done at all.
  • The proposed tariffs would result in the loss of between 157,000 and 195,000 US jobs over at least one to three years. That would jump to 624,000 jobs if auto producers like Canada retaliate with tariffs of their own.
  • The U.S. Chamber of Commerce said 760,000 American jobs would be lost from tariffs on aluminum, steel and autos.
  • If the administration carries out its threat to withdraw from NAFTA, an additional 1.8 million US jobs could be lost in the first year alone.
  • Some automakers may shift production to the U.S. to avoid tariffs, but the relocation decisions would have to factor in the costs of broken supply chains, investment uncertainties and less demand for products due to higher prices.
  • Tariffs would add about US$6,400 to the price of an imported US$30,000 car. Price increases would be more than US$8,500 per vehicle unless cooler heads prevail.

 

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About ebraiter
computer guy

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