Layoffs From Trump Tariffs Ripple Across the Auto-Parts Industry
Takeaways by Bloomberg AI
Elena Morales, the president of SMT Automation, had been preparing for a big year at the tiny Michigan maker of manufacturing machinery.
Morales had purchased a new building and hired staff in anticipation of installing more equipment on automotive assembly lines. Her customers, who are some of the biggest automakers and parts suppliers in the US, had asked her if SMT would have capacity to take on more business.