Detroit's Big Three automakers: The US-Japan trade agreement is a bad deal for the American automotive industry.
An industry organization representing General Motors, Ford, and Chrysler's parent company Stellantis expressed concerns on Tuesday about the trade agreement reached between Japan and the United States, which may reduce tariffs on imported cars from Japan to 15%, while maintaining tariffs on cars imported from Canada and Mexico at 25%. Matt Blunt, head of the American Automotive Policy Council representing the three major Detroit automakers, said, "If tariffs on Japanese imported cars, which contain very little American content, are lower than tariffs on cars manufactured in North America with high American content, then this agreement is a bad deal for the American industry and American auto workers."
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