WASHINGTON — President Donald Trump’s new 25% tariffs on all automobiles imported to the U.S. will not result in a period of downturn for auto companies and there are paths they can take to avoid the levies without massive new investment, his senior counselor for trade and manufacturing told CNBC on Friday morning.
“The answer is absolutely not,” Peter Navarro said, when asked if companies will suffer multiyear periods of depressed profit margins as they slowly move production to the U.S.
