U.S. President George W. Bush said on Monday that short-term government help for the auto makers was in the works and could come soon.
"We're now in the process of working through with the stakeholders a way forward, and we're not quite ready to announce that yet," Bush said on his way back to Washington after visits to Iraq and Afghanistan.
"This will not be a long process because of ... the fragility of the autos," he told reporters aboard Air Force One.
Meanwhile, Vice President Dick Cheney warned on Monday if the auto industry fails it will cause a major shock to the economy.
"We're on the downside of a recession that may be the worst since World War II," he said in an interview with U.S. media.
"And if the automobile industry goes belly up now, there's a deep concern that would be a major shock to the system," he said.
Treasury spokeswoman Brookly McLaughlin said no decisions have been made on what type of support to provide for the automakers.
"We continue to assess and review the information that we have received from the automakers," McLaughlin said.
Source: Xinhua
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