Remember When 'Foreign Cars" Cost More - Well They May Again
- June 22, 2018: The EU is imposing a 25 percent duty on a range of U.S. products including Harley-Davidson Inc. motorcycles, Levi Strauss & Co. jeans and bourbon whiskey. The EU measures cover a total of around 200 categories in total, also including various types of corn, rice, orange juice, cigarettes, cigars, t-shirts, cosmetics, boats and steel.
- Trump: "If these Tariffs and Barriers are not soon broken down and removed, we will be placing a 20% Tariff on all of their cars coming into the U.S. Build them here!"
Trump Tariffs May Cost Carmakers at Least 1 Million Annual Sales Says Industry Predictor
Washington DC June 12, 2018; The NADA newsletter reported that if President Donald Trump slaps a 25 percent tariff on imported vehicles, it may cost the U.S. auto industry 1 million annual vehicle sales -- and that’s just the low end of the estimated damage.
The projection by researcher LMC Automotive assumes automakers would absorb at least half the cost of a tax on imported vehicles, said Jeff Schuster, senior vice president of forecasting. If companies pass the full 25 percent cost on to consumers, it could snuff out about 2 million sales, or more than 10 percent of annual U.S. deliveries, he said.
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