quote:
Administration officials have said tariff threats on autos are a way to win concessions from Japan and the EU. Last year, Trump agreed not to impose tariffs as long as talks with the two trading partners were proceeding in a productive manner.
Trump said on Friday that tariffs protect industry and also help win trade agreements.
“I love tariffs, but I also love them to negotiate,” he said.
A report from the Center for Automotive Research in Ann Arbor, Michigan, published on Friday showed its worst-case scenario of a tariff of 25 percent would cost 366,900 U.S. jobs in the auto and related industries.
U.S. light duty vehicle prices would increase by $2,750 on average, including U.S.-built vehicles, reducing annual U.S. sales by 1.3 million units and forcing many consumers to the used car market, the think tank’s report said.
Major automaker groups said last year the cumulative effect for the United States would be an $83 billion annual price increase and argued there was no evidence auto imports posed a national security risk.
https://www.reuters.com/articl...e-idUSKCN1Q706C?il=0We'll see if he acts on the report. Given his previous tariffs, seems like we know where this is likely to be heading.
--------------------------------
When the world wearies and society ceases to satisfy, there is always the garden - Minnie Aumônier
