GM says U.S. import tariffs could mean 'smaller' company and fewer jobs

WASHINGTON – General Motors Co. warned on Friday that higher tariffs on imported vehicles under consideration by the Trump administration could cost jobs and lead to "a smaller GM" while isolating U.S. businesses from the global market. The administration in May launched an investigation into whether imported vehicles pose a national security threat, and U.S. President Donald Trump has repeatedly threatened to impose a 20 percent vehicle import tariff. The largest U.S. automaker said in comments filed with the U.S. Commerce Department that overly broad tariffs could "lead to a smaller GM, a reduced presence at home and abroad for this iconic American company, and risk less -- not more -- U.S. jobs." Higher tariffs could also hike vehicle prices and reduce sales, GM said. Its comments echoed those from two major U.S. auto trade groups on Wednesday, when they warned that tariffs of up to 25 percent on imported vehicles would cost hundreds of thousands of auto jobs, dramatically raise prices on vehicles and threaten industry spending on self-driving cars.