Posts Tagged ‘Trump tariffs’

Automakers, Suppliers Decry Trump Tariff Implementation

Companies warn that cost increases will get passed to consumers.

by on Mar.09, 2018

Analysts believe the new tariffs will increase the costs consumers pay for a new vehicle in the U.S.

Dealers, carmakers and suppliers were quick to criticize President Donald Trump’s order imposing tariffs on imported steel and aluminum with the exception of imports from Canada or Mexico.

“A tariff is a tax that will result in higher prices that consumers will ultimately bear,” John Bozzella, the president and CEO of Global Automakers, an organization that represents more than a dozen European and Asian automakers as well as key suppliers.

News Now!

Earlier in the week, Commerce Secretary Wilbur Ross tried to downplay the impact by going on television with a can of Campbell’s Soup and telling viewers its price would increase by a fraction of a penny. But considering the amount of steel and aluminum in a typical vehicle, prices for cars could go up by hundreds of dollars, analysts warn. (more…)

Trump Administration Outlines Priorities for NAFTA Talks

Automakers nervous about potential steel tariffs.

by on Jul.18, 2017

The Trump administration outlined its list of priorities for the upcoming negotiations with Canada and Mexico over NAFTA.

The Trump administration fired its first salvo in the renegotiation of the North American Free Trade Agreement by informing U.S. lawmakers it plans to shrink the trade imbalance between the U.S. and Canada and Mexico.

The 17-page document is the first look at the “agenda” for the talks, which are expected to get underway next month. The early look has some items that may seem like they’re going to make automakers happy.

Global Auto News!

One of the first items pushes the idea that none of the countries should manipulate their currently to gain an advantage on the exchange rate. Japan and China have been accused of this tactic in the past, however, this is not currently an issue with either Canada or Mexico. That said, the administration did receive some support for this measure. (more…)

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