German Chancellor Angela Merkel said on Thursday she would back lowering European Union tariffs on U.S. car imports, responding to an offer from Washington to abandon threatened levies on European cars in return for concessions.
NADA’s comments were filed with the Commerce Department in response to proceedings being conducted under section 232 of the Trade Expansion Act of 1962 intended to determine the effects on the national security of imported automobiles, including cars, SUVs, vans and light trucks, and of imported automotive parts.
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Two major auto trade groups on Wednesday warned the Trump administration that imposing up to 25 percent tariffs on imported vehicles would cost hundreds of thousands of auto jobs, dramatically hike prices on vehicles and threaten industry spending on self-driving cars.
Even from a distance, it’s easy to see that broad-based tariffs on vehicles and auto parts would result in seismic unintended consequences.
Last week, 38 heavy-duty truck dealers and Automotive Trade Association Executives (ATAE) from 17 states attended ATD’s legislative fly-in. In all, 92 meetings were held on Capitol Hill to rally congressional support for S. 3052 and H.R. 2946, bills that would repeal the FET.
The Trump Administration announced in late May that it was initiating an investigation that could result in a tariff of up to 25% on imported automobiles and automobile parts.
For businesses like Southern Auto Group, the U.S Department of Labor – through its HIRE Vets Medallion Program – will recognize employers who recruit, retain and employ veterans, and who offer charitable services in support of the veteran community.
“It’s the highest excise tax Congress levies on a percentage basis on any product, including alcohol and tobacco,” said ATD Chairwoman Jodie Teuton. “It’s time for Congress to repeal this tax.”
Truck manufacturers, suppliers and industry stakeholders — along with dealers — stand a better chance of repealing the FET if we do it together.