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First Brands Group is preparing to file for bankruptcy as soon as next week and is looking to secure a loan of at least $1 billion to keep the business running, according to sources.

The move cements the terms of the framework trade agreement the two sides struck this summer.

Major automakers want the Trump administration to weaken ambitious tailpipe emissions standards that are pushing the industry to sell electric vehicles in larger numbers. 

Both operations will run through the Talleyrand Marine Terminal, where Enstructure Auto Logistics signed a long-term lease last year to expand its auto-handling capacity.

Britain’s biggest automaker sent workers home from its factories in central and northwest England on Aug. 31. The shutdown has rippled through the U.K. auto industry.

Auto parts maker First Brands Group is discussing options with its creditors for restructuring its $6 billion debt load that include a possible Chapter 11 bankruptcy filing.

These companies are selling debt as President Donald Trump ramps up import levies, weighing on overseas car and auto-part manufacturers, which may pass added costs onto customers.

The cyberattack that brought Jaguar Land Rover Automotive factories to a standstill is affecting suppliers, with some parts makers forced to pause or scale back their own production.

GM is bracing for the early expiration of $7,500 in consumer tax credits for the purchase of EVs added during the Biden administration that President Trump and the Republican Congress have cut.

Trump’s imposition of 25% tariffs on foreign vehicles has disrupted the long-standing system that mostly allowed the free flow of vehicles and parts across the three North American countries.