As a member of the Automotive Communities Partnership, a program through the Ann Arbor-based Center for Automotive Research (CAR), the Flint & Genesee Chamber of Commerce’s Economic Development team on July 12 participated in a webinar briefing on the U.S. automotive industry and trade dynamics.
Among the issues presented, the briefing featured a new analysis by CAR that finds that tariffs and quotas on automobile and parts imports could cause new car prices to increase by $4,400 on average. In addition, a 25-percent tariff on automotive and parts imports would lead to up to 2 million fewer U.S. light vehicle sales, 714,700 fewer U.S. jobs, and $59.2 billion lower U.S. economic output.
It also delved into how the current proposals to change the North American Free Trade Agreement have the potential to alter the U.S. automotive and parts industries dramatically.
- Consumer impact of potential tariffs and quotas on imported automobiles and automotive parts
- Review of current NAFTA proposals and potential impacts on the N.A. automotive industry
ACP is a membership-based program that brings together communities, international partners, automotive companies, educational institutions, and government agencies in a collaborative environment to sustain and grow the Great Lakes regional automotive footprint.