According to foreign media reports on June 26 local time, US President Donald Trump stated that the U.S. government is about to complete a study on increasing the tariffs on imported EU vehicles and indicated that he will act soon.
A month ago, the U.S. government had investigated whether imported cars and parts pose a threat to national security and plans to complete the investigation by the end of July or August. Trump also threatened to impose a 20% tariff on all imported cars produced in the EU.
Gloria Bergquist, spokesperson of the American Automobile Manufacturers Union, said that the alliance will submit written documents and warned that according to 2017 car sales, Trump’s tariff plan for EU-imported vehicles will increase US consumer spending by US$ 45 billion per year. Expenses, which average $5,800 per vehicle. This largely offsets the benefits of tax cuts. Members of the American Automobile Manufacturers Association include GM, Toyota, Volkswagen and other automakers.
In addition, when consumers purchase cars from American and foreign vehicle manufacturers, they will also face higher costs for imported auto parts. The U.S. Department of Commerce has not commented on this yet.
Earlier, Jyrki Katainen, vice chairman of the European Commission, disclosed: "If the United States decides to raise import tariffs, we will have no choice but to deal with them. We do not want to open trade disputes through Twitter. We should avoid escalation of the dispute."
Trump has repeatedly criticized German car manufacturers including BMW for exporting vehicles to the United States, even though BMW employs 9,000 workers at an assembly plant in South Carolina. On June 26th, local time, Trump also threatened the American motorcycle manufacturer Harley-Davidson, saying that if the company is to evade EU retaliatory tariffs on U.S. motorcycles, it will continue to transfer some of its production overseas. The U.S. government will impose higher tariffs on the company.
The United States currently imposes a 2.5% tariff on passenger cars imported from the EU and a 25% tariff on imported pickups. The EU imposes a 10% tariff on imported cars from the United States.
In addition, Trump also stated that if China fulfills its commitment to impose retaliatory tariffs on soybeans, automobiles and other commodities in the United States, Trump threatens to impose a 10% tariff on Chinese products worth an additional US$400 billion. An analysis of the Tariff List by Reuters found that so far, most Chinese products have been classified as intermediate products or capital goods, avoiding direct taxation on such products, but many consumer products have been included in the future. Become a target in the round.
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