The hike in costs due to blanket U.S. tariffs impacting auto parts profitability could put a stall in shipments and soon lead to plant closures on both sides of the border, says the president of the Automotive Parts Manufacturers’ Association (APMA).
APMA president Flavio Volpe took to social media to warn the industry that hard times are on the way for the North American auto sector due to tariffs imposed by U.S. President Donald Trump. The tariffs took effect at 12:01 a.m. on March 4. Volpe made the comments several hours before the tariffs were officially confirmed.
Volpe said the industry should be prepared for automotive production across Ontario and Quebec as well as several U.S. states “to go to 2020 pandemic-level idling” and temporary layoffs within the week….