Global auto parts suppliers have entered a bruising pricing battle with carmakers as they seek to survive prohibitive tariffs that could wipe out thousands of smaller players from the $1tn industry.
The clash comes as car manufacturers are also holding crunch talks with Donald Trump to dissuade him from pushing ahead with 25 per cent tariffs on the majority of imported car parts from May 3.
The US president signalled on Monday that there would be “help” for the industry but details remain unclear on how the parts tariffs will be implemented.
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