The trade group for U.S. auto parts makers on Thursday asked the government for emergency grants"to keep the doors open," tariff relief and other assistance to cope with mounting pressures from the coronavirus crisis.
The Motor Equipment Manufacturers Association asked congressional leaders to create a"Manufacturing Emergency Assistance" grant program"to keep the doors open, preserve jobs, and prevent bankruptcies in the vital manufacturing sector."The grants could offset the costs of medical testing, the group said. The group also called for subsidies to relocate operations to the United States.
Ford Motor Co on Thursday drew down US$15.4 billion from two credit lines and said it was suspending its dividend.
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