Export Tariffs in Automotive- The Latest
Export Tariffs Impact on the Automotive Industry On June 19, 2018, NADA’s president Peter Welch testified before the Department of Commerce and Defense about how new tariffs or quotas on imported automobiles and automobile parts would adversely impact consumers and dealers. Welch used the finding of a new study by the Center for Automotive Research (CAR) to evidence the burden on the automotive industry and consumers as a whole. According to the CAR study, the “automotive demand will fall by between 493,600 to 2 million vehicles.” Lower demand means decreased employment “ranging from over 82,000 to nearly 750,000 jobs (lost) and a $6.4 billion to $62.2 billion...
Trump Tariffs
Export Tariffs and Automotive In March, President Trump announced 25% steel and 10% aluminum tariffs but postponed implementation for a few months. Immediately, our trade partners around the world began talking about retaliation. Canada, the biggest exporter of steel to the United States, announced that it would seek to put tariffs on the almost $13 billion U.S. exports. Our other trade partners in Europe and China have also spoken about reprisal. Today, many Europeans companies manufacture auto parts in the southeast states including Alabama, South Carolina, and Tennessee. The manufacturing facilities provide a boost to local economies. Their parts are placed in cars for American consumers and in cars exported...
