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Trump tariffs claim first major victim as auto-parts giant files for bankruptcy
[Daily Mail, where America gets its news] A car parts supplier pointed its finger at the Trump administration's tariffs while filing for bankruptcy. Marelli, a Japanese-based car parts manufacturer, filed for Chapter 11 bankruptcy protection on Wednesday, citing tariff-related pressures that added to its years-long financial troubles. The parts maker, which supplies components for Nissan and Stellantis, is considered a bellwether for the global auto industry. It employs 40,000 workers across plants in the US, Europe, and Asia. Marelli said it had already been navigating a challenging landscape of supply-chain bottlenecks and labor shortages following the Covid-19 pandemic. But in a court filing, CEO David Slump wrote that rising global tariffs became a tipping point this spring. 'Marelli was severely affected by tariffs due to its import/export-focused business and the imposition of tariffs specifically against automotive manufacturers and suppliers,' Slump wrote in the court filing. The company's finances began to deteriorate in March, around the same time President Donald Trump imposed 25 percent levies on imported cars and vehicle parts. Posted by: Skidmark 2025-06-13 |
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