General Motors CEO Mary Barra said the automaker she leads has already begun to see cost increases in steel and aluminum as the United States ignites potential trade wars and imposes tariffs.
Automotive News reported on Tuesday that Barra believes GM “will eventually” see the impacts of sustained trade uncertainty.
“There’s a lot of moving pieces in trade and the auto industry is exceptionally complex,” said Barra. She added that negotiations should continue, come to a conclusion and then GM can digest how the outcome will affect its business.
However, GM is keeping a close eye on things, especially after President Trump asked the Commerce Department to review whether vehicle imports threaten national security. A decision could add additional tariffs to already imposed steel and aluminum taxes.
GM originally brushed off steel and aluminum tariffs and noted it already purchased most of its materials from U.S. makers.