Trump Weighs New Tariffs on Imported Vehicles

24 May, 2018, 09:09 | Author: Arnold Perez
  • Trump Considering New Tariffs on Imported Cars and Trucks			The Associated Press		23 May 2018

It is the same method Trump used earlier this year to slap a 25% tariff on imported steel and a 10% tariff on imported aluminum.

U.S. President Donald Trump's administration is weighing a plan that would impose new tariffs on imported vehicles on national security grounds, the Wall Street Journal reported on Wednesday.

"Core industries such as automobiles and automotive parts are critical to our strength as a Nation", he said.

President Donald Trump is predicting that US automakers and auto workers will be "very happy" with the outcome of talks over the North American Free Trade Agreement.

The talks have been underway for more than nine months and now appear likely to continue into 2019, Treasury Secretary Steven Mnuchin said earlier this week. Almost half of the vehicles sold in the USA are imported, with numerous vehicles coming from assembly plants in Mexico and Canada. From 1990 to 2017, employment in motor vehicle production declined by 22 per cent, even though Americans are continuing to purchase automobiles at record levels, the Department of Commerce said.

Trump has frequently lambasted China's high import duties on foreign cars.

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The probe rests on 1960s legislation which lets the president restrict imports if they threaten national security.

Trump - whose protectionist platform helped launch him to the White House - has repeatedly floated the notion of steep tariffs that would shield the U.S. auto industry.

By threatening a tariff on all imported cars, Mexico could be pressured into the tightening of the rules.

Trump has obsessed over German cars above all others, according to a senior White House official familiar with the talks. The U.S. has been demanding that a percentage of a car's content of auto parts originate in a country - the U.S. or Canada - with average auto worker wages of about $15 an hour to qualify for NAFTA's duty-free status.

"There will be big news coming soon for our great American Autoworkers", Mr. Trump said.

The Turkish taxes target USA coal, paper, walnuts, almonds, tobacco, paddy, automobiles, cosmetics, machinery and equipment, and petrochemical products, says Turkish Ministry of Economy.

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