06:14:53 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



General Motors Company
Symbol GMM
Shares Issued 1,494,723,270
Close 2017-07-19 U$ 36.49
Market Cap U$ 54,542,452,122
Recent Sedar Documents

Globe says GM hears Mexico tariffs would hit consumers

2017-07-20 07:37 ET - In the News

The Globe and Mail reports in its Thursday edition that tariffs imposed on vehicles and parts exported from Mexico would hike costs to automakers that would range from $650 (U.S.) to $1,145 (U.S.) and those costs would be passed on to consumers, says a new study. The Globe's Greg Keenan writes that the study, done by Boston Consulting Group for the Motor & Equipment Manufacturers Assoc., a trade group for U.S. auto-parts makers, examined the impact tariffs of 20 per cent and 35 per cent would have on the auto industry if the United States departs the North American free-trade agreement. The report was issued one day after Jerry Dias, president of Unifor, called on U.S. and Canadian officials to slap "heavy tariffs" on vehicles exported to the U.S. and Canada from Mexico as a means of diverting the flow of investment from Mexico to the more northerly members of NAFTA. Boston Consulting partner Xavier Mosquet says, "At some point this will hit the consumer, there's no way that [automakers] or suppliers can eat this." Tariffs are also unlikely to lead to a shift in assembly plant investment out of Mexico, Mr. Mosquet said, because the U.S. vehicle market has hit a plateau.

© 2024 Canjex Publishing Ltd. All rights reserved.