How Tariffs Are Hurting Suppliers
Suppliers to the auto industry are paying hundreds of millions of dollars extra because of tariffs of 25% and 10% on steel and aluminum, respectively, says the Motor & Equipment Manufacturers Assn.’s Ann Wilson.
Suppliers to the auto industry are paying hundreds of millions of dollars extra because of tariffs of 25% and 10%, respectively, on steel and aluminum that were imposed in early 2018, says Ann Wilson, senior vice president of government affairs for the Motor & Equipment Manufacturers Assn.
MEMA members say the price of some steel has jumped 50% since the tariffs took effect in early 2018.
Wilson urges affected companies to aggressively pursue the government exclusions process, even though the Dept. of Commerce is swamped with roughly 40,000 applications for steel and aluminum products. She also counsels suppliers to coax their elected representatives into their factories and explain how tariffs affect their business.
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