Trump, Tariff and Auto Parts
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The Wall Street Journal |
The array of automotive parts that President Trump plans to tariff is more extensive than the industry expected, raising concerns about significant cost increases for U.S.-built vehicles.
BBC |
Business owners in Solihull say they are nervous about the impact of Donald Trump's automotive tariffs on the town's economy.
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President Donald Trump announced a 90-day pause on all tariffs except for those against China, which he said would now rise to 125%.
The U.S. government said Wednesday that it will impose 25% tariffs on automobile imports on April 3 and a similar duty on auto parts a month later, as President Donald Trump prepared to announce further trade barriers that could escalate a trade war and upend the global economy.
We’re going to raise about $100 billion with the auto tariffs alone … In addition, the other tariffs are going to raise about $600 billion a year, about $6 trillion over a 10-year period.” — Peter Navarro,
President Donald Trump said the United States will put at least a 10% tariff on all goods coming into the country, with much higher tariffs for some of America's closest trading partners, in a sweeping move that could revamp global trade and the U.S. economy.
President Donald Trump announced his highly anticipated trade plan from the Rose Garden of the White House April 2, which he has declared "Liberation Day."
President Donald Trump on Wednesday raised tariffs on imports from China to 125 percent while simultaneously pausing and lowering taxes on goods from other nations, hours after U.S. bond markets descended into turmoil and raised fears of a broader financial meltdown.
The major stock indexes opened the day with a slight drop before climbing into positive territory, just to once again fall into the negative by the afternoon.
6don MSNOpinion
The president brought onstage an auto worker from Michigan he spotted applauding his announcement of a 25% tariff on foreign vehicles, and the man - identified only as "Brian" - claimed everyone will love that tax six months or so down the road when we start to see the benefits, and not just higher vehicle prices.
As the Trump administration has imposed tariffs on Mexico, the United States' southern neighbor hopes some exemptions could make the country's auto industry a winner in the trade war. Tobias Käufer reports from Puebla.
The US president has threatened to hit Beijing with the higher tariff if it did not withdraw its own retaliatory levy.
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