Suppliers

Tariffs would lead to high costs, layoffs and supplier bankruptcies, parts executive says

President Donald Trump gives his inaugural address at a podium with the presidential seal in the U.S. Capitol rotunda.
President Donald Trump, pictured at his Jan. 20 inauguration, indicated he will implement tariffs on imports from Canada and Mexico on Feb. 1. (BLOOMBERG)
January 24, 2025 12:00 PM

Executives and analysts warned of layoffs, potential supplier bankruptcies, higher costs and lower new-car sales if President Donald Trump quickly moves ahead with tariffs on imports from Canada and Mexico.

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