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US car tariffs risk recession, warns industry

ODN

11,054 Views • Apr 04, 2025

Description

UK car industry chief Mike Hawes warns that new 25% US tariffs could severely impact manufacturers, raising prices for American consumers and depressing demand. He said the tariffs, alongside existing 10% global levies, risk fuelling inflation and recession. Hawes urged the UK government to secure a deal to protect the sector. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

Keywords & Tags

#Mike Hawes #UK car industry #US tariffs 25 #UK car manufacturers #US tariff impact #car price increases #American consumer prices #global levies 10 #inflation risk #recession risk #UK government trade deal #UK car sector protection #trade negotiations #car industry warnings #UK-US tariff negotiations #economic impact of tariffs #UK automotive industry #manufacturing sector concerns #trade policy UK #global economic challenges #car industry economic outlook

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