A group representing major automakers will tell the U.S. Commerce Department today that imposing tariffs of 25 per cent on imported cars and parts would raise the price of U.S. vehicles by US$83 billion annually and cost hundreds of thousands of jobs.

The Alliance of Automobile Manufacturers, whose members include General Motors Co, Volkswagen AG and Toyota Motor Corp, said it plans to issue the warning at a public hearing on Thursday.

“Higher auto tariffs will harm American families and workers, along with the economy” and “would raise the price of an imported car nearly US$6,000 and the price of a U.S.-built car US$2,000,” the group said in its testimony released on Wednesday...

This was excerpted from the 19 July 2018 edition of the Financial Post.