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

WASHINGTON &#x2014 U.S. auto supplier group on Tuesday urged President Joe Biden to offer federal aid to enable car components businesses impacted by the ongoing UAW strike in opposition to the Detroit three automakers.

MEMA, which features the affiliation&#x2019s Authentic Machines Suppliers and Aftermarket Suppliers teams, stated in a letter urging Biden to “effectuate federal aid to be certain the viability of this significant business sector. Devoid of federal aid, the skill of the automotive business to resume comprehensive production capability is at threat.”

The team wishes the Biden administration to offer reduced-fascination financial loans and contemplate mortgage forgiveness for having difficulties compact suppliers. Biden was in Detroit Tuesday to exhibit aid for putting UAW personnel.

The White Residence did not quickly remark and has earlier declined to remark on whether or not it is looking at applications to aid car suppliers.

The ongoing strikes have previously compelled some car suppliers to slice output and furlough some personnel. The letter cited “quick problem” for scaled-down suppliers with earnings of a lot less than $200 million. It urged the Biden administration to create a Tiny Company Administration method or other businesses “to sustain workforce and operational capability.”

The post Auto suppliers, grappling with UAW strike, urge Biden to provide financial assistance appeared first on Cars News Magazine.


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