Posts Tagged ‘Trump trade war’

Trump Trade Disputes Put Automakers in Crosshairs

U.S. auto buyers could face substantially higher prices; industry profits could tumble.

by on Apr.04, 2018

President Donald Trump could be hearing rumbles from the auto industry over his trade policies.

Wall Street investors aren’t the only ones growing worried about Pres. Donald Trump’s increasingly aggressive actions on international trade. Finding themselves in the crosshairs of a potential trade war, automakers are also sounding the alarm.

“We are not in a trade war with China, that war was lost many years ago by the foolish, or incompetent, people who represented the U.S.,” the president tweeted this week, ahead of announcing $50 billion in tariffs on Chinese-made goods. The move quickly was mirrored by tariffs announced by China.

News You Can Trust!

The tit-for-tat trade battle could lead to serious problems for a number of industries, including aerospace, agriculture and chip manufacturers – as well as the auto industry. Carmakers are also fretting over the president’s increasingly confrontational tone over NAFTA, trade with Europe and new tariffs on imported steel and aluminum.

(more…)

Tesla’s Musk Wants Trump to Expand Trade War

"It's like competing in an Olympic race wearing lead shoes."

by on Mar.09, 2018

Elon Musk, was on Trump's economic advisory council until it disbanded over immigration policies.

In a rare show of pique aimed at President Donald Trump, automakers, suppliers and industry trade groups have all but unanimously voiced their disappointment over new steel and aluminum import tariffs.

The one notable exception has been Tesla CEO and founder Elon Musk who, despite claiming to be generally opposed to import tariffs, appears to be backing the White House. If anything, the tweet-happy executive is spurring Trump to take even broader action, specifically targeting China over the way it handles foreign-made cars, as well as foreign automakers who want to set up manufacturing operations in that country.

Breaking News!

“I am against import duties in general, but the current rules make things very difficult,” Musk said in a tweet. “It’s like competing in an Olympic race wearing lead shoes.”

(more…)

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…)

Speaker Ryan Warns Trump About Trade War Consequences

Republicans fear a trade war will wipe out majorities in midterm elections.

by on Mar.06, 2018

Republicans in the House, led by Paul Ryan, are attempting to dissuade President Donald Trump from implementing new tariffs.

The war of words over trade if not the trade war itself continues unabated this week with warnings from President Donald Trump’s Republican allies in Congress about the potential for adverse economic fallout from the sudden imposition of tariffs and taxes by the U.S.

House Speaker Paul Ryan (R-Wisconsin) told journalists he was “extremely worried” about sowing discord with Mexico and Canada and the consequences of a trade war.

Automotive Insight!

Canadian Prime Minister Justin Trudeau wasted no times no time in attacking Trump’s tariff proposal and Mexican officials have abruptly given up on efforts to re-negotiate the North American Free Trade Agreement, which is critical to companies tied to the North American Auto Industry. (more…)

Trump Threatens to Tax Euro-Made Vehicles Again

President tweets 25% tariff threat.

by on Mar.05, 2018

President Donald Trump threatened to place a 25% tariff on European-made vehicles coming into the U.S. last weekend.

President Donald Trump dusted off a threat from early in his administration over the weekend by tweeting he would impose a 25% tax or tariff on new vehicles imported into the United States.

The tweet about taxing European cars was apparently in response to remarks from a European Union policy maker, suggesting that if the Trump administration imposes tariffs on steel and aluminum imports the EU could slap tariffs on iconic American products such Harley Davidson motorcycles, bourbon and blue jeans.

News Now!

Trump raised the possibility of slapping a tax on European cars during one of the early skirmishes around trade rules soon after moving into the White House in January 2017. One of his earliest proposals, a so-called “border adjustment tax” was buried after heavy lobbying by members of Congress, automakers and car dealers. (more…)

фондовый рынок для начинающих

Cialis 5 mg

Предлагаем гранитная плитка купить у нашего менеджера.