Categories: News

Auto suppliers, grappling with UAW strike, urge Biden to provide financial assistance

WASHINGTON — U.S. auto provider group on Tuesday urged President Joe Biden to supply federal help to assist auto components corporations impacted by the continued UAW strike towards the Detroit 3 automakers.

MEMA, which incorporates the affiliation’s Unique Gear Suppliers and Aftermarket Suppliers teams, stated in a letter urging Biden to “effectuate federal help to make sure the viability of this crucial trade sector. With out federal help, the power of the automotive trade to renew full manufacturing capability is in danger.”

The group needs the Biden administration to supply low-interest loans and contemplate mortgage forgiveness for struggling small suppliers. Biden was in Detroit Tuesday to point out assist for putting UAW employees.

The White Home didn’t instantly remark and has beforehand declined to touch upon whether or not it’s contemplating applications to assist auto suppliers.

The continued strikes have already pressured some auto suppliers to chop manufacturing and furlough some employees. The letter cited “fast concern” for smaller suppliers with income of lower than $200 million. It urged the Biden administration to ascertain a Small Enterprise Administration program or different businesses “to take care of workforce and operational capability.”

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