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.”
There will be big news coming soon for our great American Autoworkers. After many decades of losing your jobs to other countries, you have waited long enough!
— Donald J. Trump (@realDonaldTrump) May 23, 2018
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
Maybe America should just make better cars
Oh you Americans never get a break lol
Damn
The irony of the ultra capitalist leader, of the ultracapitalist party, in the ultracapitalist country, complaining that their carmakers arent competitive
Trump: the worst trade deal
Says the guy who paid $130,000 for sex
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%
#notmypresident
jesus ducking christ. i i hope he understands how little choices it will give the people.