Auto industry taking an economic turn due to tariffs

The stock market has rebounded somewhat since last week, but there are still many Michiganders concerned about the state of our economy. They’re worried about what tariffs will do to their business and how the uncertainty is making it difficult to plan ahead. 

This is specifically true of auto suppliers. In a recent Motor & Equipment Manufacturers Association survey, nearly one-fourth of auto suppliers said their companies would cut or delay investments during the first month of the tariffs. Roughly 21% of suppliers said modifications to supply chains would be needed and 13% said cutting U.S. jobs would be required.

Laurie Harbour, partner and automotive analyst at the tax advisory firm Wipfli joined The Metro to discuss how car companies are reacting. She’s been working with auto suppliers for over three decades. 

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