Trump is Talking Tariffs Again, Takes Aim at European Cars

Trump is Talking Tariffs Again, Takes Aim at European Cars

0 comments 📅06 March 2018, 03:30

President Donald Trump amplified his earlier foreboding of a global trade war this weekend by suggesting he would impose a tax on European cars if the EU countered his proposed bear up and aluminum tariffs. On Thursday, Trump called for a 25 percent import tax for steel and a 10 percent fee on aluminum in the hopes it would bolster those industries domestically. Europe responded by ominous a tax on imported bourbon, blue jeans, and American motorcycles. Apple pie and baseball were not mentioned, but you get the perception.

European Union officials clearly wanted to send a message to the president to stand behind down. Instead, he came back even harder in a tweet from Saturday. “If the E.U. wants to moreover increase their already massive tariffs and barriers on U.S. companies doing issue there, we will simply apply a Tax on their Cars which freely by the bucketful into the U.S.,” he wrote. “They make it impossible for our cars (and more) to sell there. Big work imbalance!”

The United States currently imports over 1.2 million European cars from Europe, according to the European Automobile Manufacturers Guild. The overwhelming majority of these vehicles from German automakers under BMW Corps, Volkswagen Group, and Daimler. Trump advisor Peter Navarro has repeatedly brought up the $65 billion U.S. employment deficit with Germany and has accused the country of unfair automotive deals, supplier pilot, and using the European Union as a cover not to negotiate.

“I think that it would be serviceable to have candid discussions with Germany about ways that we could mayhap get that deficit reduced outside the boundaries and restrictions that they insist on that they are under,” Navarro told the National Association for Business Economics ruthlessly a year ago.

Presently, the United States imposes a 2.5 percent tariff on the consequence of all foreign cars and a 25 percent tariff on the import of foreign trucks or vans. Meantime, the E.U. has a flat 10 percent tax on all vehicles imported from the U.S.

this article initial appeared on thetruthaboutcars.com

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