Starkiller Posted June 27, 2018 Report Share Posted June 27, 2018 https://www.politico.com/story/2018/06/26/us-automakers-trump-administration-car-tariffs-653654 A tax on foreign autos could have far deeper impacts than the steel and aluminum duties Trump has already imposed. The U.S. imported some $360 billion in cars, car parts and engines last year, compared to $29 billion in steel and $18 billion in aluminum. “This would widen the trade war tenfold,” said Rufus Yerxa, a former trade official who now leads the National Foreign Trade Council. “It’s a whole different ballgame from steel.” A 25 percent tariff, as the administration has threatened, would lead to a loss of 195,000 jobs in the U.S. auto industry over a three-year period, as production would drop off by 1.5 percent, according to a recent study from the Peterson Institute for International Economics. The study projected that if other countries retaliate, U.S. job losses could reach 624,000. Link to post Share on other sites More sharing options...
PetroleroTitanico Posted June 27, 2018 Report Share Posted June 27, 2018 Would also have to account for what the retaliatory measures from the EU would do... Might end up killing any chance to increase market share in oil and petrochemicals sales to them Link to post Share on other sites More sharing options...
Rogue Posted June 27, 2018 Report Share Posted June 27, 2018 1 hour ago, Starkiller said: https://www.politico.com/story/2018/06/26/us-automakers-trump-administration-car-tariffs-653654 A tax on foreign autos could have far deeper impacts than the steel and aluminum duties Trump has already imposed. The U.S. imported some $360 billion in cars, car parts and engines last year, compared to $29 billion in steel and $18 billion in aluminum. “This would widen the trade war tenfold,” said Rufus Yerxa, a former trade official who now leads the National Foreign Trade Council. “It’s a whole different ballgame from steel.” A 25 percent tariff, as the administration has threatened, would lead to a loss of 195,000 jobs in the U.S. auto industry over a three-year period, as production would drop off by 1.5 percent, according to a recent study from the Peterson Institute for International Economics. The study projected that if other countries retaliate, U.S. job losses could reach 624,000. Well, we should refer to the wisdom of master global tradesman, Ben, much like his mentor, Trump, "what happens IF, IF we win this trade war?" What further deep, educated thought does anyone need? Link to post Share on other sites More sharing options...
IsntLifeFunny Posted June 27, 2018 Report Share Posted June 27, 2018 2 hours ago, Rogue said: Well, we should refer to the wisdom of master global tradesman, Ben, much like his mentor, Trump, "what happens IF, IF we win this trade war?" What further deep, educated thought does anyone need? Something has to be done with our debt. Eventually the interest payments are going to eat up a huge portion of our budget. Trump’s idea is basically a race to the bottom. He’s essentially testing the US economy against the entire world. It isn’t something we can win. What we could have done is to have been strategic. That’s not a term in his vocabulary. Link to post Share on other sites More sharing options...
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