Auto Care Association CEO Bill Hanvey: Tariffs are Hurting the Aftermarket, Making Roads Less Safe

摘要

On June 18, Auto Care Association President and CEO Bill Hanvey testified before the U.S.Trade Representative(USTR)in Washington, D.C., on the latest proposed fourth Section 301 tariff list on imports from China.Hanvey voiced the association's support for the Trump Administration's efforts to address China's unfair trade policies, but warned the administration of the negative impact tariffs are having on the industry's supply chain.Hanvey testified that Auto Care Association members are experiencing many challenges as a result of the Section 301 tariffs, including heavy financial strain from absorbing tariff-related costs, decrease in demand for products, margin pressure and negative cash flow.Hanvey went on to explain that the impact of tariffs extends far beyond just the cost of the tariff.