Statistics for business and economicsAutomotive manufacturing is one particular of Europe’s most enduring industrial activities, and it accounts for millions of jobs, billions of euros in investment, and represents a large portion of the continent’s exports. The US auto industry is a major player in the country’s economy, with automakers and their suppliers at present responsible for three% of America’s GDP. No other manufacturing sector generates as many American jobs, suggesting a period of contraction may have dire consequences for the US economy in the long-term. The Donald Trump administration has talked for some time of escalating tariffs to boost the domestic auto marketplace and place customers off investing in imported autos – nevertheless the likely effect of tariffs would see the domestic market stung by inflated prices for components and maintenance, costing producers between $21.six billion and $23.8 billion, which in turn would boost rates for buyers who would … READ MORE ...