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COMING UP:Share Opener Variant 4

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Transcript

00:00:01
>> The world´s biggest carmakers and car lovers have flocked to Detroit this week, for flashy new sports cars, trucks, and electrified concepts. But auto executives' attention is on Washington, where they say political uncertainty around trade disputes and the government shutdown is costing the industry. Reuters editor Ben Klayman is in Detroit.
00:00:22
>> All of the automakers have been feeling these trade disputes or tariffs, and what they love most of all is certainty. Automakers love to plan five years out, so things like this are very upsetting to them. Fiat Chrysler's CEO Mike Manley told us that the higher tariffs are gonna add like $300 to $500 million to their cost this year.
00:00:44
And GM and Ford have said similar things about their costs. In the last year, all the automakers talked about an additional $1 billion in costs each. So we're not talking small amounts here. These guys want to get these issues resolved so that's money going back into their pockets.
00:01:00
>> We've taken the toughest ever actions to confront China's unfair trade practices.>> President Donald Trump's efforts to revamp trade and environmental policies only compounding concern for the automakers. As forecasters have predicted a slowdown in vehicle demand in the US and China in 2019.>> They're hit on many levels.
00:01:20
There's the basic stuff like higher steel and aluminum costs, which they would like to get all that resolved so that those costs will go back down. But there's even smaller things, like the government shutdown, for example, has barred Fiat Chrysler from getting certification of a new heavy duty pickup truck.
00:01:37
The sooner they can get those things done, the sooner they can get back to making tens of thousands of dollars on their cars.>> US trade officials are negotiating a new deal with China in the hopes of avoiding new tariffs. At the same time, a new regional trade agreement with Canada and Mexico still needs congressional approval.
00:01:54
All of it adding to the uncertainty that automakers hate.>> All of our vehicles