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
Wait, hold up. So if anyone was to buy a new Subaru Outback, they’d be charged 25% more in taxes? Wow. Thanks Trump. Can someone send me a plane ticket to Japan? I’d like to leave the US if this happens.
America has too many brands crammed into the lower end of the market.
Chevrolet, Buick and Cadillac are too close to each other.
If GM tried to replicate the 3-tier system that Volkswagen operates with
Cadillac = Bentley
Buick = Audi
Chevrolet = VW
then each brand would have enough room to breathe without any excessive overlap.
Trying to get a Cadillac to rival a Bentley again will be the hard part.
I have so many questions, like does this tarrif apply to foreign cars that are manufacturered domestically? Because companies like Honda and Toyota produce many cars here in the states stimulating our economy tremendously.
Thank god I live in Canada
Lol you guys are complaining about 25%? We indians have to pay ridiculous import duties before our own road taxes. To put things in perspective a mustang gt in india costs about 138k USD. Wipes a tear
25% is nothing compared to India. Here it is 125% +a certain percentage based on engine or car size. Ridiculously high
NOO
Bruh
Disagree with him or not, I am offended by coining him as an “occasional president”. It’s disrespectful. He’s our president, nothing can change that, I hope that these increased tarrifs improve our auto industry here. We will see what happens in the next few years.