Todd Spangler Detroit Free Press Published 11:39 p.m. UTC May 24, 2018 WASHINGTON – Some policy-makers and powerful business groups on Thursday criticized President Donald Trump's threatened tariffs on imported autos and auto parts into the United States on national security grounds, suggesting Trump is abusing his authority. U.S. Sen. Bob Corker, R-Tennessee, who serves as chairman of the Senate Foreign Relations Committee and represents a state that is home to plants run by General Motors, Nissan and Volkswagen AG, said Trump is following "a dangerous course" by using a statute that protects national security to justify potential tariffs. "There is no reason to use this provision to consider imposing tariffs on the automobile industry, and this appears to be either an attempt to affect domestic politics ahead of the election or for some other transactional purpose regarding ongoing trade discussions," said Corker. He added that he thought the … [Read more...] about Corker, U.S. Chamber blast Trump threat of auto tariffs
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Todd Spangler Detroit Free Press Published 5:06 p.m. UTC May 24, 2018 WASHINGTON — Less than a day after President Donald Trump threatened tariffs on imported autos and auto parts into the U.S. on national security grounds, U.S. Sen. Bob Corker, R-Tennessee, criticized Trump for following what he called "a dangerous course." Corker, who represents a state where General Motors, Nissan and Volkswagen AG have operations, said he was concerned that Trump might be "abusing the authorities" granted the chief executive more than a half-century ago to take trade actions in cases where imports are found to threaten national security. Trump and the Department of Commerce earlier this year announced tariffs on imported steel and aluminum based on a so-called Section 232 investigation finding that reductions in U.S. capacity and job losses threatened to impair national security, raising concerns among some at the time that he was misusing his authority. Read more: On … [Read more...] about Corker calls Trump threat of auto tariffs ‘dangerous’
Phoebe Wall Howard Detroit Free Press Published 8:09 p.m. UTC May 24, 2018 Auto industry analysts and advocates say American consumers will be hurt if President Donald Trump follows through on using "national security" concerns about declining manufacturing jobs to justify adding a major tax on imported trucks, cars and auto parts. They say his call for tariffs reflects a lack of understanding of the intricacy of the auto supply chain, and expressed alarm at Trump's move Wednesday to order a Commerce Department investigation of the possibility. Industry coalitions, the Republican chairman of the Senate Foreign Relations Committee and the U.S. Chamber of Commerce expressed alarm at the president's move — but the UAW said it supported a review of trade policy, calling a look at auto imports long overdue. Read more: "This is a huge deal," said Kristin Dziczek, vice president of Industry, Labor & Economics at the Center for … [Read more...] about Analysts: Trump doesn’t get the auto industry; tariffs hurt consumers
Sections SEARCH Skip to content Skip to site index Business Day Subscribe Log In Subscribe Log In Advertisement Supported by ByKeith Bradsher April 25, 2018 查看简体中文版 查看繁體中文版 BEIJING — When President Xi Jinping announced measures to further open up China’s auto industry to foreign carmakers, the global industry initially cheered. Now the cheering has stopped. As details are emerging, foreign auto executives attending China’s annual auto show in Beijing this week said Mr. Xi’s initiative was too narrow and vague to change business on the ground. That means the initiative may not be a strong enough starting point for talks to stave off the Trump administration’s threats to impose tariffs on $150 billion in Chinese-made goods. Central to Mr. Xi’s plan is that it will allow foreign automakers to own Chinese … [Read more...] about China Is Opening Its Car Market. But Not Enough, Say Auto Companies.
The Trump Effect is surrounding us again. This time it’s in the form of stiff tariffs on imports of steel and aluminum. And the imminent tariffs are upsetting stock markets, according to the New York Times, with the prospect of a global trade fight around the proverbial corner. US President Trump’s announcement, which came during an insider meeting with industry executives, seeks to impose tariffs of 25% on steel and 10% on aluminum. The debate escalated as Trump declared he would consider a tax on imported cars if European leaders increased tariffs on US goods. Reports from the Wall Street Journal have it that Trump’s pro-trade advisers are against the tariffs and are stunned. Let’s use this edition of the “Gas2 Week in Review” to trace this most recent iteration of the Trump Effect on the US and the reaction of the marketplace, especially that of global auto and parts manufacturers. In what is increasingly a digital US … [Read more...] about The Trump Effect on the Auto Industry (#Gas2WeekinReview)