Of the 16 million passenger vehicles, SUVs and light trucks Americans buy annually, about 8 million are imported, primarily from Germany, Japan, Mexico and South Korea. Of the other 8 million vehicles assembled in America, about 50% of their content is made in America.
This means that just 25% of the dollar value of the vehicles Americans buy each year actually supports American manufacturing. The rest of our hard-earned money goes to pay for foreign-made parts and labor.
What caused this decline in America’s once-mighty auto sector?
It’s the same story we’ve seen across industries: Other nations use unfair trade practices and predatory industrial policies to flood our market with subsidized vehicles and parts while blocking U.S. exports from reaching their own consumers.
Read the article.