Saturday, 22 September, 2018

Automakers: New Tariffs Could Force Job Cuts

2019 Mazda CX-5 Gets 190 HP Diesel and New Skyactiv Technology in Japan Automakers, manufacturers oppose Trump call for auto tariffs
Laurie Berry | 03 July, 2018, 02:33

Friday, June 29, 2018 is the deadline for public comments on Trump's call for a Commerce investigation into whether auto imports pose enough of a threat to US national security to justify tariffs.

"The very basis of the Section 232 investigation is wrong", JAMA said in comments filed Friday. "Tariffs will lead to increased producer costs, increased producer costs will lead to increased vehicle costs, increased vehicle costs will lead to fewer sales and fewer tax receipts, fewer sales will lead to fewer jobs, and those fewer jobs will significantly impact many communities and families across the country". Trump blasted Harley-Davidson's plan to move production of European-bound motorcycles offshore as waving the "white flag".

Trump later threatened to impose 20% tariffs on cars from Europe if the European Union didn't remove tariffs and trade barriers on United States goods.

Toyota noted that the company operates 10 manufacturing plants in the United States.

The Japanese automaker also said the tariffs would harm some of the U.S.'s closest allies, including Canada, when such Commerce investigations traditionally inspect whether imports come from unsafe sources.

NFTC president Rufus Yerxa said the tariffs will make it almost impossible for US manufacturers to sell their cars overseas due to retaliatory tariffs from other countries.

Waistcoat sales soar as England coach Southgate sets trend at World Cup
Colombia bounced back from an opening defeat at the hands of Japan to beat Poland and Senegal, with Mina on target in both victories.

"America does not go to war in a Ford Fiesta", the group said.

Last year, about 36% of GM's US sales were imported, or about 1.1 million vehicles, according to research firm LMC Automotive. Toyota said its Camry sedan, built in Kentucky, is made with about 30% foreign parts.

GM fell 2.8% - to $39.40 - in NY on Friday, and has now posted three straight weekly declines, the longest such streak since March.

The National Foreign Trade Council (NFTC) said auto tariffs will raise costs for automakers, which will eventually hit customers.

Ms Barra had earlier tried to stay on good terms with Mr Trump. She continued to serve on his Strategic and Policy Forum even after many other CEOs, such as Walt Disney's Bob Iger and Tesla's Elon Musk, quit to protest Trump's withdrawal from the Paris climate agreement previous year. He's also imposing steep tariffs on foreign steel and aluminum.

General Motors warned on Friday that expansive USA tariffs on imported vehicles being considered by the Trump administration could lead to "a smaller GM" and risks isolating U.S. businesses from the global market. Higher prices would crimp sales, particularly to less-affluent consumers, and reduce the number of factory workers needed, it said. GM plans to combine "proprietary battery technology, a low-priced, flexible vehicle design and high-volume production mainly in China", Reuters reports, citing six current and former GM and supplier executives and six industry experts.

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