US President Donald Trump's 25%
tariffs on auto vehicles and parts will have heavy effects on
companies in the Italian auto supply chain, sector group ANFIA
said Thursday.
"The tariffs will not have a devastating effect, but a
significant one. "At a time when manufacturers and component
suppliers are suffering and this is a further element of
uncertainty", said the director of ANFIA, Gian Marco Giorda on
Trump's announcement.
"We export from Italy about 1.2 billion components to the United
States and import 230 million, while as regards vehicles we
export three times what we import.
"We hope that it is a negotiating move and that there is room to
stop this maneuver. A car could cost between 6,000 and 10,000
dollars more than the current price" explained Giorda.
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