New China tariff list creates risk of 'downward cycle' for US auto industry [USA TODAY]
IHS Markit Ltd. Common Shares (INFO)
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Source: USA TODAY
President Donald Trump arrives to speak at the American Center of Mobility, Wednesday, March 15, 2017, in Ypsilanti Township. In the background is a Ford F-150 and a Chevrolet Volt. (Photo: Evan Vucci, Evan Vucci, AP) CONNECT TWEET LINKEDIN COMMENT EMAIL MORE DETROIT – New tariffs imposed by President Donald Trump on auto parts from China will hit carmaker profits , cut sales and threaten to start a downward cycle in the critical industry, analysts unanimously agree. In addition, if you're in the market for a new car, you probably should head to a dealership soon, because prices will be going up. Trump's latest round of tariffs on Chinese imports will add costs to more than 100 car parts – a 10 percent levy on everything from tires and brake pads to engines and batteries – that go into vehicles made and sold in the U.S. It's going to be felt by Americans, and it's going to be a big deal, said Peter Nagle, senior analyst at IHS Markit. Tari
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