Automakers, parts suppliers and dealers are joining forces to push back against the Trump administration’s proposal to apply tariffs of up to 25% on vehicles and components imported into the U.S., contending the administration’s trade policy will backfire and lead to higher prices and lost jobs, according to a report by the Wall Street Journal.
President Donald Trump has justified the proposed tariffs on national-security grounds and has argued that Germany and Japan don’t import enough U.S.-made vehicles. He has repeatedly called on both foreign and domestic auto makers to create more U.S. manufacturing jobs by building more factories in the country.
President Donald Trump to back off on his threats to place tariffs on imports, with plans to amplify their message in digital and newspaper advertisements.
“Raising tariffs on auto and auto parts would be a massive tax on consumers, who buy or service their vehicles,” according to an open letter to the president and jointly submitted by the auto industry’s main lobbying groups, including trade organizations that represent the foreign and U.S.-based automakers, as well as auto dealers.
The White House and U.S. Commerce Department had no immediate comment.
Auto industry representatives have petitioned President Donald Trump to back off on his threats to place tariffs on imports, with plans to amplify their message in digital and newspaper advertisements.
For the full story click here.