Trump introduces special tariffs of 25 percent of cars imported into the USA – Diepresse.com
The US President had long threatened to raise additional tariffs on imported vehicles. The US manufacturers, who often have vehicles are built in Mexico, are also affected by the step.
US President Donald Trump wants to raise special tariffs on all cars that are not manufactured in the United States in the amount of 25 percent. This was announced by the Republican on Wednesday evening. Car manufacturers would then move to the USA and build factories, the Republican announced in the White House to sign a corresponding decree. The measures should come into force on April 2, the money will be collected from the following day.
A advisor from the President also said that the measure also applies to the category of light commercial vehicles (Light Trucks). Trump has been prospect of imported cars for a long time. The Republican is always annoyed about the tariffs of the European Union to auto imports from the USA.
Already tariffs on steel and aluminum imports
The right -wing populist has announced or put a number of tariffs since taking office in January. Since March 12, new US tariffs of 25 percent on steel and aluminum imports apply.
Trump is bothered by his country’s trade deficits and wants to persuade companies to invest in the United States. The Republican sees the United States disadvantaged in the trade with other countries. Most recently, worries came up on Wall Street, he could overdo it and possibly even plunge the world’s largest economy into a recession.
Trump is always annoyed about the tariffs of the European Union to auto imports from the USA. Customs of 2.5 percent are due on the way to the USA – but ten percent on the way to Europe. But with the pickups and commercial vehicles popular in the USA, for example, the US tariffs are much higher. Trump had long threatened to raise additional tariffs on imported vehicles, but so far neither a specific schedule for the announcement nor details of the extent of the expected tariffs.
Share prices from US car builders gave
The shares of carmakers such as General Motors or Tesla gave up on the US exchanges on Wednesday. « Everyone is wondering what is really decided when it comes to tariffs, » said Steve Englander, chief analyst at the Standard Chartered Bank. « I also see a certain risk that the announced tariffs will ultimately be more restrictive than is currently being priced up on the market. » In addition, many US manufacturers, for example, also have cars manufactured in Mexico and would now be affected by the tariffs. In return, Japanese manufacturers such as Toyota or the two German car companies BMW and Mercedes have works in the USA and would not be affected by the tariffs at the models built there. (APA/dpa)
