Much of business and associations are not optimistic about « reciprocal » duties
Trump has already imposed a 25% tax on cars and car parts.
What are the reactions of companies, trade associations and trade unions?
Companies
Katsuya Nakanishi, CEO, Mitsubishi Corp
The Chief Executive Officer of the Commercial Office said the company would react flexibly to the effect of duties and would seek opportunities and evaluate the risks.
Nobuhiro Tori, President, Suntory
« We will produce and try to sell locally … This is a key strategy with duties. »
Associations and Trade Unions
Swiss Business Group Economie Suisse
« Further escalation of the commercial conflict should be prevented. The Federal Council and Economists Diplomats are urgently called to find solutions to the negotiating table with the US government. From an economic point of view, there are no rational reasons for US customs against Switzerland – the opposite. »
Dirk Yandura, Head of the German Exporters Association – BGA
« The duties will increase prices, which will hit the turnover … This is a dead end in the economy, which ends the losses of well -being on both sides of the Atlantic. »
Giovanna Cyolini, a leader of Confindustria Accessori Moda, represents the Italian footwear and leather industries
« We are afraid that there will be a delay (in demand) for our companies, and it depends on whether Americans are willing to pay a little more (for our goods). »
Wolfgang Nidermark, Member of the Executive Board of the Main Industrial Association of Germany – BDI
« There is no excuse for this protectionist escalation. It threatens our export -oriented companies and threatens prosperity, stability, jobs, innovation and investment worldwide. »
« Now the EU must strengthen its alliances with other major trading partners and coordinate its response to them. A coordinated answer is also needed to oppose the changed flows in international trade. »
How did investors and markets react to the new US duties
Scott Wither, CEO, Advamed
« Widely based duties of this nature would act a lot as excise duty. The cost of research and development will probably be the first and most direct victim to endanger America’s leadership in the field of medical innovation. Duties will cost jobs in the United States, increase the cost of the healthcare system and will be in the future. »
Chris Vitale, a veteran of the UAW union, who retires from Stellantis, spoke in the White House in the announcement of Trump customs duties
« These are things we have been preaching for years as we watched our factories empty as we witnessed how our capacity diminishes. To hear and see a president to speak on these issues and to use some of the same words and thoughts I used was just incredible. »
Liz Schuller, President of the American Labor Federation and Congress of Industrial Organizations
« The Trump administration attacks against the rights of union workers in the United States, the overturning of a government agency, which opposes US job outsourcing, and undermines efforts to attract critical investment in US production, turn us back. »
Richard Capeto, Director at IPC on government issues in North America
« A strong electronic industry of the United States requires a comprehensive approach – one that combines purposeful investments and incentives with policies that improve mutually affordable trading partnerships. Trade is essential for the sustainability of the supply, innovation and competitiveness of the costs.
List: Which country with what of the new US duties is taxed
ZOLTAN HININGEN, CEO of US Lumber Coalition
« We welcome the measures taken by President Trump and the focus of his administration on Canada’s unfair commercial practices. We approve the President’s initiative to launch an investigation under Section 232 under the 1962 Expansion Act, focusing on the import of coniferous timber. »
Mark Compton, CEO of the American Mining Association
« We are encouraged that the Trump administration is prioritizing local mineral production and their processing so that we have raw materials for the production base. We look forward to working with the administration to ensure that the local mining industry is able to meet this challenge. »
