ABOARD AIR FORCE ONE (Reuters) - The U.S. Commerce Department will continue its probe into whether auto imports pose a national security risk despite ongoing trade talks with the European Union, but President Donald Trump asked that no action be taken at this time, Commerce Secretary Wilbur Ross said on Thursday. U.S. Commerce Secretary Wilbur Ross attends a cabinet meeting at the White House in Washington, U.S., July 18, 2018. REUTERS/Leah Millis “We’ve been directed by the president to continue the investigation, get our material together, but not actually implement anything pending the outcome of the negotiation,” Ross told reporters aboard Air Force One. The Trump administration in May launched a probe into whether car and auto part imports pose a national security risk. Last week, major automakers warned imposing tariffs of 25 percent on imported cars and parts would raise the price of U.S. vehicles by $83 billion annually, cost hundreds of thousands of … [Read more...] about U.S. puts auto tariffs on hold pending outcome of EU talks: Ross
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Todd Spangler Detroit Free Press Published 12:51 p.m. UTC Jul 20, 2018 WASHINGTON — President Donald Trump's proposal to place tariffs of 25 percent on imported autos and auto parts received a near-unanimous flogging Thursday as automakers, dealers, suppliers, repair shop owners and foreign allies each stepped up to warn against it, saying it will hurt production and cost jobs. In fact, through midafternoon of what was scheduled to be an all-day hearing at the Commerce Department, only one organization — the UAW — defended Trump's call for an investigation into whether imports, including those from allies such as Canada, Mexico, the European Union, Japan and South Korea, should face stiff tariffs. But even in that case, the UAW's Jennifer Kelly, director of the union's research department, cautioned against ultimately applying broad tariffs or using them against key allies such as Canada, which she said could hurt production in the U.S. and cost jobs. … [Read more...] about Except the UAW, groups rip Trump’s proposed auto tariffs at hearing
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.
China will allow foreign carmakers to take full ownership of their local ventures, something that can greatly benefit electric car producers such as Tesla, Volkswagen and GM. The current ownership cap stands at 50% but is now on track to be eliminated in 2020 as far as commercial vehicles are concerned, followed by a similar move in 2022, aimed at passenger vehicles, stated the NDRC. Once that happens, companies such as Daimler, VW, Ford and Toyota could find it easier to manufacture cars in China, in turn putting pressure on local automakers to speed up the development of their own brand. “In a decade, foreign carmakers will gradually become all independent and Chinese companies will lose the cash flows from the joint ventures,” stated Yale Zhang, an analyst for Automotive Foresight Co. “Foreign carmakers will be happy as they won’t have to share 50 percent of the profits with their Chinese partners.” It’s very likely that Chinese authorities … [Read more...] about China’s Finally Ready To Ease Ownership Rules On Foreign Carmakers
BEIJING/SHANGHAI (Reuters) - China will scrap foreign ownership caps on local auto companies by 2022 and will remove restrictions on new-energy vehicle ventures this year, a major shift that will open the market wider to carmakers from Nissan (7201.T) to Tesla Inc (TSLA.O). FILE PHOTO: Cars are parked at the Great Hall of the People during the opening session of the 19th National Congress of the Communist Party of China in Beijing, China October 18, 2017. REUTERS/Thomas Peter/File Photo The country will scrap the limits on firms making fully electric and plug-in hybrid vehicles in 2018, commercial vehicle firms in 2020 and lift restrictions on the wider passenger vehicle market by 2022, China state planner said in a statement. The moves signals the end of a long-standing rule in the world’s largest auto market where foreign carmakers can currently only own a 50 percent share of any local venture, a policy put in place to help support domestic carmakers compete against … [Read more...] about China to scrap foreign auto ownership limits by 2022