President Donald Trump It announced that 25% tariffs will apply to the imported Autos. The White House claims to increase the internal production of the action, but others claim that automators dependent on global supply chains.
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More information about imported autos tariff
As noted, Trump spoke to journalists on Wednesday (March 26) 25% of the tariff “It will continue to give rise to growth.” White House expects $ 100 billion from tariff every year.
However, the answers to the event may be complicated, even US cars also welse parts of the world. The tax increase in starting on April 3 means higher expenses and lower sales. Tariffs would be on top of any tax available and apply to both the imported automatic and parts.
Again, President Donald Trump claims that tariffs will open a factory more in the United States and the “ridiculous” supply chain of the “ridiculous” supply chain included in the United States, Canada and Mexico. The President of the Republic stressed that 25% of the tariff is “constant”.
The President asked Monday, South Korea's plans to build a $ 5.8 billion steel plant in Louisiana by Hyundai. He pointed out this news as evidence that the tariffs will return the production work.
According to the Bureau of Labor Statistics, more than 1 million people are employed in the production of vehicles and parts. This is less than 320,000 more than 2000. Auto and parts are added to additional 2.1 million people in the sellers. The United States imported 8 million cars and light trucks worth $ 244 billion last year. Mexico, Japan and South Korea were the best sources of foreign vehicles. According to the Trade Department, Mexico, Canada and China were over $ 197 billion.
The auto industry has reacted to the Tariff of the Canada, Mexico and the European
According to Associated PressIn total engines, the shares collapsed about 7% in Thursday. Ford's shares decreased by about 4%. The owner of the Jeep and Chrysler's Stellantis decreased by 1.25%. However, the Tesla and Rivian stock prices of electric vehicle producers were above.
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The American Automobile Policy Council, which represents internal cars, made a statement on the imported tariff.
“… There are tariffs in a way that the tariffs are increasing consumer prices and the integrated North American automotive sector competitiveness,” he said.
The President of the Group, the Republican government Matturi's Mattlunt, was sent by Associated Press: “… We have expressed accurate influences on the department of prices and other effects and other effects of the modernized North American trade agreement.”
Foreign leaders continued to criticize tariffs. “This is a very direct attack” Canadian Prime Minister Mark Carney said.
“We will defend our employees. We will defend our companies. We will defend our country,” Carriay.
In Brussels, President of the European Commission Ursula Von Der Leyen regretted the decision of the United States to target auto from Europe. Leyen promised to protect the block consumers and enterprises.
“Tariffs are taxes – bad for business, in the United States and the European Union are bad for consumers equally,” he said.
Mexican President Claudia, Sheinbaum said he did not want to take their positions with every new tariff on Thursday. But Trump's first time he said under a trade pact “There should be no tariff; this is the essence of this trade agreement.”
Meanwhile, President Donald Trump reiterated his readiness to challenge allies on tariffs. The current tariffs planned for Canada can be “great” for Canada, if the country cooperates with the European Union against the United States on Thursday
Trump has given 20% import tax to all imports from China for the role of Fentanyl production. At the same time, he placed 25% of tariffs in Mexico and Canada, which is about 10% tax on Canadian energy products. Parts of the Mexican and Canadian tariffs, including taxes in Autos, including cars, were stopped after protest. Trump replied to the end of a 30-day fame to end in April. The President also applied 25% tariffs in all steel and aluminum imports. He also plans computer chips, pharmaceutical drugs, wood and copper tariffs.
Will the cost of vehicles rise in the United States?
Trump has long been a certain policy of the tariffs of import-imported cars, he said. While the cost of contraction of the taxes created by taxes, more production believes that more production will lead to the transfer to the United States.
However, there are plants in the world to accommodate global sales while maintaining the US and foreign cars, competitive prices. Moreover, Trump's promising new factories can take years for design, establishment and opening companies.
“We look at the prices of higher vehicles,” economist Mary's favorite AP. “We will see the reduced option. … Such taxes are meant to be more of these species average and more workers.”
According to him, more households will be discussed in the new car market and will be forced to hang on elderly vehicles. Vehicle prices are already an average of $ 49,000. If taxes are fully fully, the average car price in a imported vehicle can be nourished for total inflation for $ 12,500. Remember that an incentive for Trump voters had a promise to lower auto prices.
As Trump announces new tariffs, he expressed his desire to give car recipients a new incentive to help car buyers to remove the Federal income tax to auto lovers. These perks will be for vehicles made only in America. This discount would eat some income that can be created by tariffs.
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Associated Press staff Josh Boak, Rob Gillies and AP Economy writer Paul Wiseman contributed to this report.
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