Published: Sat, December 01, 2018
Markets | By Otis Pena

United States will examine how to 'equalize' auto tariffs with China

United States will examine how to 'equalize' auto tariffs with China

BMW Group Chairman and CEO Harald Krueger on Tuesday told reporters that his company could consider a second plant in the U.S. It now runs an assembly plant in SC, and will officially open a factory in Mexico next year.

The US President tweeted that tariffs were "being studied" and that duties could have stopped the GM closures. On Monday, the company said it will shutter five North American plants, stop building six low-selling passenger cars in North America and cut up to 15,000 jobs.

In his latest attack, Mr Trump pointed to the 25% duty on imported pickup trucks and commercial vans from markets outside North America as supporting the industry.

The White House has pledged not to move forward with imposing tariffs on the European Union or Japan as long as it is making constructive progress in trade talks. Currently, US has placed a 2.5% tariff over the imported cars and sport utility vehicles from any market outside North America and South Korea.

Trump is set to meet with Chinese President Xi Jinping at the G20 summit this week in Buenos Aires, Argentina amidst the intensifying trade war between the world's two largest economies.

The president reiterated on Twitter that "countries that send us cars have taken advantage of the USA for decades".

DimensionalMechanics, Inc. Launches NeoPulse Framework on Amazon SageMaker
Unfortunately, labeling data is a job that's often time-consuming, because it generally has to be done by hand. They can also process their data using AWS services, like for analytics, storage, processing, and streaming.


Trump's tweet comes as his administration is mulling whether to apply fresh tariffs on imported autos under national security grounds, as it did on steel and aluminum imports.

"As the President has repeatedly noted, China's aggressive, State-directed industrial policies are causing severe harm to U.S. workers and manufacturers", Lighthizer said.

Trump tweeted: "Billions of Dollars are pouring into the coffers of the United States of America because of the Tariffs being charged to China, and there is a long way to go".

"As the president has repeatedly noted, China's aggressive, State-directed industrial policies are causing severe harm to USA workers and manufacturers", Lighthizer said in a statement. However, for Chinese manufactured cars this figure rises to 25 per cent.

Trump said it was "highly unlikely" he'll accept China's request to postpone the tariff hike, which will take effect on January 1, 2019. She noted only a small number of vehicles were exported from China to the United States annually.

Like this: