The Center for Automotive Research, one of the leading industry research groups, said that enacting tariffs on automobiles and auto parts imports could cost the United States economy at least 71,000 jobs and potentially as many as 367,000. The report comes as the White House edges closer to unveiling a Commerce Department report on whether the administration should enact tariffs.
“In every scenario considered new vehicle dealership revenue and employment fall,” said the center’s report, issued Friday and titled, “U.S. Consumer & Economic Impacts of U.S. Automotive Trade Policies.” The center said that tariffs would reduce gross domestic product by $6 billion to $30 billion. Dealerships would be particularly hard-hit, losing between $6 billion and $44 billion in revenue.
Stay informed.Stay ahead.
Join Washington Examiner for unlimited access to the news, analysis, and commentary that matter most.
Already a member? Log in
