Trump threatens 20% tariff on all car imports from the EU
Source: CNBC
President Donald Trump tweeted another tariff threat Friday, this time targeting imported autos from the European Union.
The president said on his feed that if the EU does not removed duties on U.S. cars, then the U.S. will have no choice but to act.
The threat comes just two days after Commerce Secretary Wilbur Ross said no decision had been made on whether the U.S. would extend the volley of tariffs it has imposed on other goods to the automobile industry.
The 20 percent tariff actually would be a bit smaller than the 25 percent levy Trump had previously threatened. The president has railed against unfair tariffs slapped on U.S. goods in other countries and has vowed to reduce the trade deficit the country has with other nations, particularly China.
Read more: https://www.cnbc.com/2018/06/22/trump-threatens-20-percent-tariff-on-all-car-imports-from-the-eu.html
Link to tweet
BeyondGeography
(39,374 posts)Sophia4
(3,515 posts)BeyondGeography
(39,374 posts)Most of the remainder were made in the United States and in Mexico, which has a free trade agreement with the United States. GM (GM) and Ford (F) also make cars in Mexico for delivery to the United States.
Trump would likely have to pull out of NAFTA, the trade deal between the United States, Mexico and Canada, to prevent automakers from building vehicles in Mexico and shipping them across the border.
http://money.cnn.com/2018/06/11/news/economy/german-cars-trump-trade/index.html
They have an easy workaround unless he kills NAFTA too while he's at it.
Shipwack
(2,164 posts)They have an easy workaround unless he kills NAFTA too while he's at it.
Give him time. There are only so many hours left in the day after playing golf and tweeting...
BumRushDaShow
(129,096 posts)BeyondGeography
(39,374 posts)Fritz Stern's line about the Nazis lives on.
bucolic_frolic
(43,182 posts)Sounds like Hitler's excuse for invading Poland.
GusBob
(7,286 posts)me good president
underpants
(182,829 posts)It damned shame
Bernardo de La Paz
(49,007 posts)Since he has a six-front trade war going now, he will MAGA Make America Go Alone as everybody else increases trade with each other and reduces trade with the US.
If US exports and imports fall overall by 50% then, voila!, the trade deficit will fall by 50%. Trump will claim victory as the economy slumps.
Voltaire2
(13,061 posts)pain while each of Trumps targets suffers only their tarrifs.
beachbum bob
(10,437 posts)putin is even more overjoyed
beachbum bob
(10,437 posts)as trump single handly crashes our economy and we all get to blame them for letting it happen
red wave? right...
safeinOhio
(32,688 posts)shore up MC SS?
just asking.
GOP plans to cut Medicare and Social Security.
https://www.washingtonpost.com/news/business/wp/2018/06/19/house-gop-plan-would-cut-medicare-social-security-to-balance-budget/?noredirect=on&utm_term=.afadef8916d7
safeinOhio
(32,688 posts)pay for themselves with all the growth. I thought that would pay for Social Security and Medicare. They lied?
turbinetree
(24,703 posts)where there taconite goes too..................
http://www.duluthnewstribune.com/business/4322127-third-twin-ports-shipped-taconite-leaving-us
kimbutgar
(21,163 posts)I cant afford a BMW, Mercedes or An Alfa Romeo car. The average American making $55,000 a year cant afford them either. Leasing is probably $400 minimum a month for these cars. Twitler is only hurting his rich donors.
SoCalNative
(4,613 posts)are also imported from the EU
mwooldri
(10,303 posts)Proudly made in... Italy.
http://www.businessinsider.com/jeep-renegade-all-american-suv-made-in-italy-2017-2
Edit to add: Ford Transit Connect.
https://en.wikipedia.org/wiki/Ford_Transit_Connect#Second_generation_(2013%E2%80%93present)
Interesting to note that Ford USA imports the Ford Transit Connect as a Passenger Van, and then converts back to a goods van in the USA. Why? Avoid a 25% tariff that the USA imposes on imported trucks.
TreasonousBastard
(43,049 posts)how is that calculated?
GM no longer owns Opel, but some cars, like the Buick Cascada, are built by Opel in Slovakia, or some damn place. How's that work now?
And what about Fords and Chevys built in Canada with some European parts?
Land Rover and Jaguar will be even more interesting. They are now owned by the Indian Tata Motors, with manufacturing split between England and India, but Tata has plans to increase Chinese manufacturing. Maybe even move it all there. With or without Brexit, how do you figure the import tax on your new Discovery?
C-class Mercedes' are built in Alabama, so the question is, if you really, really want that $60,000 E-class convertible, will you pay an extra 12 grand for it? There is no comparable American or Asian choice.
Scurrilous
(38,687 posts)We're on a highway to hell!
Botany
(70,516 posts)Watch the S.P. tank today.
duforsure
(11,885 posts)Then claim its these others countries , and we're being victimized by unfair tariffs, when we are not at all. Once again designed for him to claim he's fighting for us and winning for PR, because its all BS again. He's doing this over and over hurting this country and our GOP in Congress stand by and watch.
MiniMe
(21,717 posts)pwb
(11,276 posts)If it also applies to parts.
PatrickforO
(14,577 posts)decide they have had a gut full of Trump and his profoundly stupid policies, register to vote and clean house come November.
The guy is just SO ignorant. Stumbling from one policy disaster to another, a new outrage every day, it seems.
sinkingfeeling
(51,460 posts)Oneironaut
(5,504 posts)This is all about Drumpfs ego. Hes going to crash the economy.
beachbum bob
(10,437 posts)to buy a Chevy?
DesertRat
(27,995 posts)Link to tweet
GETPLANING
(846 posts)Canada. Some Buicks are actually Opels, made in Germany. And why do US car manufacturers build their plants in Canada and Mexico? Because healthcare costs are half what they are here in America, for starters.
mwooldri
(10,303 posts)Buick Encore... Made in Korea. As is Chevy Trax. Basically a rebadged Opel Mokka. https://en.wikipedia.org/wiki/Opel_Mokka
no_hypocrisy
(46,122 posts)mwooldri
(10,303 posts)Jaguars are also made in Austria, India and China. Land Rovers are also made in Slovakia, Brazil and China.
no_hypocrisy
(46,122 posts)mwooldri
(10,303 posts)Tariff on import of "trucks" is 25%.
This is why Ford ships their Transit Connect vans from Spain to the US as a passenger vehicle. They then retro-fit it to a van here in the USA. It saves them 22.5% on the tariff.