Trump Wants To Hit Car Imports With 25 Per Cent Tax To Protect National Security
Legendary businessman, Twitter obsessive and occasional president Donald Trump wants to introduce big tariffs on imported cars to protect US jobs, citing national security concerns.
The Commerce Department has launched an investigation into the threat posed by imported cars, trucks and car parts, with a view to imposing tariffs that Trump hopes will help the domestic auto industry grow.
According to Politico, the likes of Toyota, Nissan and Aston Martin have “expressed alarm” at the news, while John Bozzella, CEO of Global Automakers, a trade association and lobbying group representing the interests of international auto makers in the US, called it “a bad day for American consumers”.
He said: “The U.S. auto industry is thriving and growing. Thirteen, soon to be 14 companies, produced nearly 12 million cars and trucks in America last year. To our knowledge, no one is asking for this protection. This path leads inevitably to fewer choices and higher prices for cars and trucks in America.”
The news comes as Trump heads off to attempt to renegotiate the North American Free Trade Agreement (NAFTA) with Canada and Mexico – two of the three biggest vehicle importers to the US. NAFTA allows free trade between the three countries, but Trump thinks the US gets a bum deal.
Before heading to Long Island for crunch talks, he said: “NAFTA is very difficult. Mexico has been very difficult to deal with. Canada has been very difficult to deal with. They have been taking advantage of the United States for a long time. I am not happy with their requests. But I will tell you, in the end, we win.
“We will win, and we’ll win big.”
Comments
good news for US automakers (who will also be able to become less efficient due to facing less competition), not so good news for consumers who will bear the increased vehicle prices
Its for imports, American manufacturers will be hurt by this (gm builds cars in Mexico, as do ford and Chrysler), not Toyota, honda, Subaru or Volkswagen, all of which have build their cars in the USA
Maybe America should just make better cars
As an American I agree lol
You do realize America makes crap cars (their cheaper cars) because they’re outsourced to places like Mexico… This isn’t to encourage Americans to buy American cars, it’s to encourage American car manufacturers to use American labor. The amount of people that don’t understand that is kinda funny lol
America makes great cars. GT350r humilated the M4 GTS in every aspect…
And that’s not the only car. American cars are not bad. It’s just that people aren’t open minded.
What about the ZR1
Like the Mach 1 electric fwd crossover
Oh you Americans never get a break lol
This isn’t saying “don’t buy a germcan car!” or “All Americans should drive American cars!” It’s simply encouraging American automakers to use American labor, instead of having their cars built in Mexico. You wonder why cheap American cars are crap? It’s because they go to the lowest bidder for labor. So for us Americans, we’ll get better quality cars from our manufacturers AND be getting more jobs as well as a bit more money in taxes for imports that will further our economy. Not seeing a downside to this aside from a BMW might cost a little more now, but those of us who can afford a BMW to begin with, won’t scoff much at a little price increase
Damn
The irony of the ultra capitalist leader, of the ultracapitalist party, in the ultracapitalist country, complaining that their carmakers arent competitive
You mean Cronycapitalist. Ultra capitalism sounds like lassez-faire
Trump: the worst trade deal
Says the guy who paid $130,000 for sex
Lmfaooooooo
Lol
Oooh shots fired!
No i didn’t mean nanother school shooting
👌👌
Good luck getting it through congress Trump :P
Trumps intention is to force the EU to lower our Import tax on US vehicles anyway. But our politicians are just too stuck up to acknowledge that.
EU import tax on US cars: 10%
US import tax on EU cars: 2.5%
Lower it to 2.5% like the US and it will be fair again.
10% is less than 25%
No, the USA just needs to build better cars. Even with the 10% import duty, the Mustang is the most popular sports car in Europe because its good.
The only american cars that get imported to europe are muscle cars/top end sport cars and they aren’t everywhere on the road. There isn’t much point in lowering a tax on exclusive items
#notmypresident
If you’re in the U.S.A, #yesheis
jesus ducking christ. i i hope he understands how little choices it will give the people.