Steel and aluminum are two key ingredients in the production of the Chevrolet Corvette, but President Trump’s upcoming tariffs on imported steel and aluminum aren’t expected to have a big effect on America’s Sports Car.
At least not yet, according to officials at the Bowling Green, Ky., facility where the Corvette is assembled.
“We purchase over 90 percent of our steel for U.S. production from U.S. suppliers,” said Rachel Bagshaw, communications manager for the General Motors Bowling Green Assembly Plant. “We need to fully understand all the details in order to assess the potential impact, but we are encouraged by the temporary exemption for Canada and Mexico. In the near term, there will be little impact to us from the tariff itself.”
Bagshaw expects the plant to be able to absorb an increase in the cost of the raw materials used to make the car.
“We will be impacted by any general U.S.-sourced steel price increases, but we do not expect a material impact given the majority of our contracts are longer-term,” she said. “And for any longer-term impact, we have shown we have the ability to adjust and adapt to a variety of market changes around the world.”
President Trump, who made the tariffs on steel and aluminum part of his campaign promises, announced that the tariffs will be effective March 23, with 25 percent on steel and 10 percent on aluminum. North American Free Trade Agreement partners Canada and Mexico won’t be hit by the tariff, at least in the early going.
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