United Auto Workers Strike and International Trade
The United Auto Workers (UAW) strike against General Motors, Ford, and Stellantis is having a significant impact on international trade. The U.S. auto industry is a major exporter, and the strike is disrupting production and shipments to overseas markets. This is having a ripple effect on other industries, such as steel and aluminum, which supply the auto industry.
The strike is also affecting imports. Automakers in other countries, such as Japan and South Korea, are expected to benefit from the strike, as they will be able to meet increased demand for their vehicles.
Here are some specific examples of how the UAW strike is affecting international trade:
- Auto exports: The U.S. exported $104.9 billion worth of passenger cars and light trucks in 2022. The UAW strike is expected to reduce auto exports by billions of dollars in 2023. For example, General Motors has already announced that it will be reducing its production of vehicles for export to China.
- Auto imports: The U.S. imported $261.7 billion worth of passenger cars and light trucks in 2022. The UAW strike is expected to increase auto imports in 2023, as automakers in other countries meet increased demand for their vehicles. For example, Toyota has already announced that it will be increasing its exports of vehicles to the United States.
- Steel and aluminum exports: The U.S. exported $18.1 billion worth of steel and $18.8 billion worth of aluminum in 2022. The UAW strike is expected to reduce exports of these commodities in 2023, as automakers reduce production.
- Steel and aluminum imports: The U.S. imported $27.8 billion worth of steel and $15.8 billion worth of aluminum in 2022. The UAW strike is expected to increase imports of these commodities in 2023, as automakers import more parts and components from other countries.
In addition to the economic impacts, the UAW strike is also having a political impact. The strike is putting pressure on the Biden administration to take action to support the UAW and the U.S. auto industry. The Biden administration has already announced that it is providing financial assistance to UAW members who are on strike. More information here: Biden UAW
The UAW strike is a reminder of the importance of international trade for the U.S. auto industry. The strike is also a reminder of the challenges that the U.S. auto industry faces in competing with foreign automakers.
Why is the UAW strike happening? UAW Strike
Find ongoing updates about the UAW strike here: Washington Post UAW
- Auto Imports and Exports: U.S. Census Bureau