Friday, August 7, 2020
Home Business U.S. Commerce Department Recommends White House on How to Proceed with Auto...

U.S. Commerce Department Recommends White House on How to Proceed with Auto Industry Tariffs

Some trade organizations also blasted the Commerce Department for keeping the details of its "Section 232" national security report shrouded in secrecy.

The U.S. auto industry urged President Donald Trump’s administration on Monday not to saddle imported cars and auto parts with steep tariffs, after the U.S. Commerce Department sent a confidential report to the White House late on Sunday with its recommendations for how to proceed.

Some trade organizations also blasted the Commerce Department for keeping the details of its “Section 232” national security report shrouded in secrecy, which will make it much harder for the industry to react during the next 90 days Trump will have to review it.

“Secrecy around the report only increases the uncertainty and concern across the industry created by the threat of tariffs,” the Motor and Equipment Manufacturers Association said in a statement, adding that it was “alarmed and dismayed.”

“It is critical that our industry have the opportunity to review the recommendations and advise the White House on how proposed tariffs, if they are recommended, will put jobs at risk, impact consumers, and trigger a reduction in U.S. investments that could set us back decades.”

Representatives from the White House and the Commerce Department could not immediately be reached.

Auto industry, tariffs
Some trade organizations also blasted the Commerce Department for keeping the details of its “Section 232” national security report shrouded in secrecy. VOA

The industry has warned that possible tariffs of up to 25 percent on millions of imported cars and parts would add thousands of dollars to vehicle costs and potentially devastate the U.S economy by slashing jobs.

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.

“We believe the imposition of higher import tariffs on automotive products under Section 232 and the likely retaliatory tariffs against U.S. auto exports would undermine – and not help – the economic and employment contributions that FCA, US, Ford Motor Company and General Motors make to the U.S. economy,” said former Missouri Governor Matt Blunt, the president of the American Automotive Policy Council.

ALSO READ: US States Sue Trump’s Administration for Obtaining Border Wall Funds

Some Republican lawmakers have also said they share the industry’s concerns. In a statement issued on Monday, Republican Congresswoman Jackie Walorski said she fears the Commerce Department’s report could “set the stage for costly tariffs on cars and auto parts.”

“President Trump is right to seek a level playing field for American businesses and workers, but the best way to do that is with a scalpel, not an axe,” she added. (VOA)

STAY CONNECTED

18,959FansLike
362FollowersFollow
1,780FollowersFollow

Most Popular

Cybercriminals Prefer Misuse of Authentic Software During Attacks, Says Report

Cybercriminals widely use software developed for normal user activity, administrative tasks, and system diagnostics to avoid getting caught quickly after carrying out their attacks,...

Puerperal Period Fitness For New Mothers

Exercise, along with a balanced diet, is an essential part of a healthy lifestyle. Light to moderate physical activity is safe and beneficial for...

Rehabilitation Of World Heritage Site In Mali

The UN's culture organization UNESCO will support a three-year project in African country Mali's Bandiagara that aims to rehabilitate damaged architectural heritage, notably housing,...

People Who Experience Dizziness on Standing Up May be at Higher Risk of Dementia

Researchers have found that people who feel dizzy or lightheaded when they stand up may have an increased risk of developing dementia. The condition, called...

Major Goal is to Identify Planets that Could Support Life: NASA

As scientists search for signs of life on planets outside our solar system, astronomers using NASA's Hubble Space Telescope have detected Earth's own brand...

Need to Adapt to Changing Customer Behaviour: McDonald’s

By Siddhi Jain As India moves forward in the Unlock phases, there is a need to adapt to changing customer behaviour and align business operations...

Vitamin D, Calcium Consumption Twice a Day may Reduce Chances of Getting Vertigo Again

Researchers have revealed that taking vitamin D and calcium twice a day may reduce your chances of getting vertigo again - a sudden internal...

Stock Up Your Monsoon Pantry With These Common Ingredients

By Puja Gupta The monsoon season is possibly every Indians favourite season! Well it is certainly infamous for one's cravings for all-things-fried, along with a...

Recent Comments