“There is evidence suggesting that, for decades, imports from abroad have eroded our domestic auto industry,” Commerce Secretary Wilbur Ross said in a statement.
The Commerce Department announcement said the investigation “will consider whether the decline of domestic automobile and automotive parts production threatens to weaken the internal economy of the United States, including by potentially reducing research, development, and jobs for skilled workers in connected vehicle systems, autonomous vehicles, fuel cells, electric motors and storage, advanced manufacturing processes, and other cutting-edge technologies.”
The department claimed in the statement that imported passenger vehicles account for 48 percent of passenger vehicles sold in the United States, up from 32 percent 20 years ago, while “employment in motor vehicle production declined by 22 percent.”
Minutes before the announcement, the White House released a statement saying that President Donald Trump asked Ross for the probe.
“Core industries such as automobiles and automotive parts are critical to our strength as a Nation,” the White House statement said.
Commerce Secretary Ross sent a letter to U.S. Secretary of Defense James Mattis to inform him of the investigation.
Source : CNBC
