US EditionLayoffs From Trump Tariffs Ripple Across the Auto-Parts Industry
- Elena Morales's SMT Automation, a small Michigan maker of automotive machinery, faced drastic revenue drops and layoffs after Trump's 25% tariffs hit vehicle imports in 2025.
- The tariffs, imposed earlier this year, disrupted supply chains and raised production costs, causing automakers and suppliers to delay investments amid uncertainty.
- Hyundai's Montgomery plant showed production declines for Canada-bound SUVs, with April's Santa Fe SUVs decreasing from 1,356 units to 28 in May, reflecting tariff impacts on exports.
- Morales reported a 40% decline in revenue during the first quarter and noted that SMT reduced its workforce by eight employees. Dixit remarked that financial support is becoming scarce and mentioned that even larger companies than hers are facing difficulties.
- These dynamics suggest continued strain on smaller suppliers and slowed capital spending in the auto sector, pending tariff clarity and a stable trade environment.
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(Seoul = Yonhap News) Reporter Moon Gwan-hyun = The total new car sales in the U.S. in June are expected to record 1.25 million units (based on the same number of sales days), up 2.5% from the same period last year...
·Korea, Republic of
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Total News Sources22
Leaning Left1Leaning Right4Center6Last UpdatedBias Distribution55% Center
Bias Distribution
- 55% of the sources are Center
55% Center
C 55%
R 36%
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