Donald Trump said on Tuesday that he intends to impose a 25 -percent car tariff “in a neighborhood”, with similar duties on semiconductors and pharmaceutical imports. It is the latest in a series of measures that threaten the international trade trade by the US President.
On Friday, Trump said that the car fees will come as soon as April 2, the day after the cabinet members are scheduled to submit reports to specify options for a set of import duties while seeking to reshape global trade.
Trump has long been inhabited against what he calls the unfair treatment of US car exports in foreign markets.
For example, the European Union collects 10 percent on vehicle imports, and four times the rate of tariffs of the American passenger car of 2.5 percent. Nevertheless, the United States gathered a 25 percent tariff on small trucks from countries other than Mexico and Canada, a tax that makes vehicles very profitable for automobile companies in Detroit.
Maraus Sepkovic, the European Union’s trade president, will meet with their American counterparts – Trade Minister Howard Lottenic, Trump’s candidate to be American trade representative Jameson Jarir and the director of the National Economic Council Kevin Haysit – in Washington on Wednesday to discuss the various definitions threatened by Trump.
When asked whether the European Union could avoid the mutual definitions it proposed last week, Trump reiterated his claim that the European Union has already indicated that it would reduce the definitions of American cars to the average US, although the European Union lawmakers denied this.
He said he would press European Union officials to increase US auto imports and other products.
Duties of medicines and semiconductor chip fees
Trump told the correspondent of Mar Lago in Florida on Tuesday that the sectoral tariffs on medicines and semiconductor slices will also start in “25 percent or higher”, throughout the year.
He did not make an appointment to announce these duties and said that he wanted to save some time for drug and chips to establish our factories so that they can avoid definitions.
Trump said he expected some of the largest companies in the world to announce new investments in the United States in the next two weeks. Not provided more details.
Since its opening four weeks ago, Trump has imposed a 10 percent tariff on all imports from China, in addition to the existing fees, due to China’s failure to stop trafficking in Fintanel. He was also announced, then delayed for a month, and 25 percent of the customs tariffs on the goods of Mexico and non -energy imports from Canada.
It has also set a date on March 12 compared to 25 percent of the tariffs on all imported steel and aluminum, eliminating the exemptions of Canada, Mexico, the European Union and other commercial partners. Trump also announced that this customs tariff will be applied to hundreds of imported products made of steel and aluminum, from electric channel tubes to bulldozing blades.
Last week, his economic team directed plans to impose a mutual tariff that corresponds to the customs tariff rates for each product separately.
Car tariff
The tariff for the import of 25 percent cars will be a change in the global auto industry, which is already reeling for the uncertainty caused by Trump’s introductory drama.
A similar drama played in 2018 and 2019 during the first period of Trump, when the Ministry of Commerce conducted an investigation of national security in car imports and found that it weakened the local industrial base.
Trump threatened the tariff of 25 percent cars at the time, but he did not take any action in the end, which allowed the customs tariff authority of this investigation.
However, some research that entered into 2018 can be reused or updated as part of new car tariff efforts.
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