In response to U.S. trade restrictions, China has stopped exporting crucial chips used by automakers across North America. That’s already slowing down production of some models.
“Basically, YKK is a company that is just in the business of keeping things together,” said journalist Joshua Hunt. “It's really rolled with the punches in terms of the various shapes that globalization has taken.”
Recent data from the Labor Department has shown that the price of foreign exports to the U.S. — before tariffs — has held steady over the last few months. That means U.S. importers are absorbing most of the tariff burden.