Trump threatens 25-percent tariff on imported cars

Trump threatens 25-percent tariff on imported cars”

The rule had been operating in U.S. since 1960s and it has been boosting the United States vehicle production.

American International Automobile Dealers Association CEO Cody Lusk told FOX Business' Susan Li that GM failed to include in their restructuring announcement whether China's unfair trade practices affected GM's decision to cut 14,000 jobs over the next two years.

In a pair of tweets, Trump cited a long-standing 25-percent tariff on trucks as the reason trucks sell do so well for American automakers.

United States trade representative Robert Lighthizer has indicated that he was exploring the possibility of raising United States tariffs to match those imposed by China. Trump said Monday that he expected to move ahead with raising tariffs on $200 billion in Chinese imports to 25 percent from the current 10 percent, and repeated his threat to slap tariffs on all remaining imports from China. Regardless of whether suppliers and OEMs continue to import steel from overseas or buy it domestically, they are paying more for steel to build their auto bodies.

Trump's tweet comes as his administration is mulling whether to apply fresh tariffs on imported autos under national security grounds, as it did on steel and aluminum imports.

A similar tariff on auto imports would mean "many more cars would be built here" and "GM would not be closing their plants in Ohio, Michigan & Maryland", he tweeted.

"As the President has repeatedly noted, China's aggressive, State-directed industrial policies are causing severe harm to USA workers and manufacturers", Lighthizer said. The company has no plans to shift production of those vehicles to other markets.

Contradicting President Donald Trump's November 29 claim that it has announced a new plant in the USA, the automaker said it is only considering opening a second facility.

Trump has also harshly criticized GM for building cars in China.

China now imposes a 40 percent tariff on U.S. automobiles, while the United States has a 27.5 percent tariff on Chinese vehicles.

Volvo recently announced a reduction to its hiring plans and scaling back on the auto company's new assembly plant near Charleston, South Carolina, as a result of the impending higher auto tariffs. However, for Chinese manufactured cars this figure rises to 25 per cent.

The White House in recent weeks has reached out to the chief executives of German automakers including Daimler AG, BMW AG and Volkswagen AG about meeting to discuss the status of auto trade.

Like this



01 December 2018
Apple Music coming to Echo smart speakers next month
On the technology front, Amazon opened up Alexa to more third-party music services when it released its Music Skill API last month.

01 December 2018
Another UK minister quits in protest of PM May’s Brexit deal
Those who don't want us to leave the European Union without a deal need to consider that this would increase the chance of that'. Asked which of those two options was more likely if her deal does not pass, she said: "We haven't had the vote yet".

01 December 2018
G20: A timeline of US-China trade tensions
President Donald Trump and Chinese President Xi Jinping are slated to hold their first face-to-face talks since November 2017. Oil prices have slid in recent weeks on concerns of softening global growth caused by the US-China trade war.

01 December 2018
Cameroon won’t host 2019 African cup of nations tourney - CAF
Morocco is the favourite to take over the hosting of the expanded 24-team tournament, which is being held from June 15-July 13. It had been set to stage the 2015 Cup of Nations before being stripped of its hosting rights in a row over the Ebola outbreak.

01 December 2018
State's first case of AFM confirmed in Nebraska child
The New York City Department of Health did not respond by press time with locations of the outbreak in New York City. Nineteen states have no confirmed cases, and 12 states are reporting only one confirmed case, according to the CDC .

01 December 2018
Chiefs' Kareem Hunt Seen Pushing, Kicking Woman In Hotel Surveillance Video
The woman claimed that she was kicked out of Hunt's hotel room after refusing to have sex with one of Hunt's friends. According to TMZ , this occurred on February 10 outside a hotel room at The Metropolitan after 3 a.m.

30 November 2018
Antetokounmpo scores 36 points, Bucks hold off Bulls
He received some valuable help from Eric Bledsoe who scored 23 points and also added 5 rebounds and 5 assists to his tally. Michelle Carlson at the Hospital for Special Surgery in NY , was supervised by Bucks team physician Dr.

30 November 2018
NAFTA 2.0 Signed: A Deal for 'The Corporate One Percent'
Mexico has also agreed to labor reforms, while Canada agreed to increase market access for US "dairy products, eggs, and poultry". In the US , as Politico notes , that could mean "months of fierce debate between the Trump administration and Congress ".

30 November 2018
Will this Sikh shrine build corridors of peace between India and Pakistan?
Sushma Swaraj also said that the Kartarpur corridor ceremony should not be seen as the start of talks between the two countries. Then, the rhetorical question whether peace would have to wait till Punjab minister Navjot Sidhu became PM was also puzzling.

30 November 2018
Next U.S. moon landing will be by private firms
But with this program, NASA is looking to replicate the success of SpaceX , the private rocket company led by Elon Musk . We will remind, 49 years ago, American astronaut Neil Armstrong the first of the humans stepped on the lunar surface.