Jeanne Whalen
Appearances
Apple News Today
How tariffs could transform the auto industry
So I think there's a lot of lobbying happening between the companies and the government about what will be on that list.
Apple News Today
How tariffs could transform the auto industry
One of the big employers in the Detroit region, Stellantis, which makes Jeeps and Chryslers, shut down two factories in Mexico and Canada temporarily as it tries to figure out how these tariffs are going to affect its business. And that caused the company to then also temporarily lay off 900 people in Michigan and Indiana who supply parts to those factories.
Apple News Today
How tariffs could transform the auto industry
He's estimating that those tariffs alone will cost an additional 1,700 jobs at things like restaurants and dry cleaners and hotels and all of the industries that support the auto industry.
Apple News Today
How tariffs could transform the auto industry
They were nervous because, you know, there have been all of these prognoses that these tariffs will add so much cost for the automakers that the automakers are going to jack up their prices even more on new cars. And if that happens, more people will stop buying new cars. And that means the automakers will cut production and there could be layoffs.
Apple News Today
How tariffs could transform the auto industry
I think what they're trying to figure out right now, one is which auto parts are going to be included on the list of things that get tariffed.