Automakers, manufacturers oppose Trump call for auto tariffs

Automakers, manufacturers oppose Trump call for auto tariffs

Automakers, manufacturers oppose Trump call for auto tariffs

Last month, Trump ordered the Department of Commerce to launch an investigation to determine whether importing automobiles and auto parts poses a threat to national security (yes, it is as ridiculous as it sounds).

"We have received approximately 2,500 comments already", Ross said in a statement yesterday, adding that he expected more before a midnight deadline.

Toyota also submitted comments to the Commerce Department on Friday, saying import tariffs would "disrupt" US -based production by depriving plants for key parts. Those tariffs led to retaliatory tariffs from Mexico, Canada, the European Union, India, and Turkey.

Kansas Governor Jeff Colyer also objected to the tariffs, saying the auto industry brings $1 billion in tax revenue to his state, and pointing to a recent GM investment of $265 million in a Kansas plant to build a new Cadillac sport utility vehicle.

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GM issued the warning in comments filed with the U.S. Commerce Department Friday.

The remarks were made to the Department of Commerce, which is investigating whether to recommend the tariffs. But people familiar with the matter said Trump wants the investigation to be finished before the midterm elections in November so he can use the tariffs to his political advantage.

The government's probe of imports of vehicles includes cars, SUVs, vans and light trucks and automotive parts. Flavio Volpe, the president of the Automotive Parts Manufacturers' Association, said the tariffs would cause "carmageddon" and see the industry "grind to an immediate halt".

Toyota makes the Camry, the nation's best-selling sedan, in Georgetown, Kentucky.

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GM's message came as a surprise because the company has kept close contact with the Trump administration, James Albertine, analyst with Consumer's Edge Research told Bloomberg TV.

The National Foreign Trade Council (NFTC) said auto tariffs will raise costs for automakers, which will eventually hit customers. Stock indexes in China are down more than 20% so far this year. The forum was disbanded in August following Mr Trump's tepid response to attacks by white supremacists in Charlottesville, Virginia. A similar process led to new tariffs on foreign steel and aluminium this spring.

Such automobile tariffs, if introduced, could "seriously affect more than 1.5 million jobs created by Japanese auto-related companies in the United States and by inflicting costs on the consumers, lead to devastating effects on the USA and global economy", the government said. GM imports parts for cars that it makes in the United States. A third of Honda Motor Co.'s cars sold in the US a year ago were imported, mostly from Canada and Mexico, and 48 percent of Nissan Motor Co. cars sold in the country were brought from countries including Mexico, Japan and South Korea.

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