Auto suppliers urge Biden to provide financial assistance to address strike
By David Shepardson
WASHINGTON (Reuters) -U.S. auto suppliers on Tuesday urged President Joe Biden to provide federal assistance to help auto parts companies impacted by the ongoing United Auto Workers strike against the Detroit Three automakers.
MEMA, the Vehicle Suppliers Association, in a letter seen by Reuters urged Biden to «effectuate federal assistance to ensure the viability of this critical industry sector. Without federal assistance, the ability of the automotive industry to resume full manufacturing capacity is at risk.»
The group wants the Biden administration to provide low-interest loans and consider loan forgiveness for struggling small suppliers. Biden is headed to Detroit on Tuesday to show support for striking UAW workers.
The White House did not immediately comment and has previously declined to comment on whether it is considering programs to support auto suppliers.
The ongoing strikes have already forced some auto suppliers to cut production and furlough some workers. The letter cited «immediate concern» for smaller suppliers with revenue of less than $200 million. It urged the Biden administration to establish a Small Business Administration program or other agencies «to maintain workforce and operational capacity.»
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