The US and the EU have stepped back from a possible trade war, with the announcement of a proposal to ease tensions and avoid more tariffs.
EU warns Trump that raised car import tariffs would hurt US
US president Donald Trump and European Commission president Jean-Claude Juncker yesterday appeared outside the White House confirming they had agreed to stave off proposed car tariffs during negotiations. Trump had previously threatened to impose a 25% tariff on imported vehicles and parts from the EU.
However, Reuters is reporting that a top German industry group is sceptical, saying the tariffs are not yet off the table and there is still no real resolution.
US import tariffs of 25% on steel and 10% on aluminium, implemented in March, will remain in place during the talks.
Three of the world’s biggest car makers have claimed that trade policy changes are having a negative impact, with Ford, General Motors and Fiat Chrysler Automobiles all reporting lower profit or revenue forecasts. Higher steel or aluminium prices are cited as the main cause, with shares in FCA down 11%.
GM CEO Mary Barra said higher costs were already anticipated but “the challenge has become significantly greater than we expected”.
Lawrence Allan
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Mercedes and BMW have suv and sports made solely in USA
And all the X5 and X6 come to Europe along with Gle's etc all made in USA,cant' understand why no fuss and pr made about this as Eu manufacturers have to pay the 10% import duty.All I can say is that ther emust be some well paid laid back people in Governments etc that could not care less.
I agree, Trump has a point,
I agree, Trump has a point, didn't favourable inport tariffs and unfavourable export tariffs help kill the Australian car manufacturing industry?
Oz
What killed the Australian car industry was that it wasn't viable because of a small market and the highest labour costs in the region. It survived only while it was subsidised by import tariffs. Without those it hadn't a hope.
Cars....
How many home grown American built Cars are sold outside the USA?, where is their biggest market for Uncle Sams finest?, seems to me that in the USA home made is out sold by just about any foreignCar maker,I have a friend who for the past 25 yrs has taken his two weeks Holiday there and says while there are some nice looking American stuff it just doesn’t stack up against Hondas and Toyota, why is that?
Tariffs are of course bad and cost the end user
I fully agree that in the ideal world these should not exist or be of a nominal nature, but unfortunately have to be used as a bargaining chip when other past presidents Pm's etc have been very passive. It takes either balls or stupidity to correct his by it's very nature to reset the goal posts will ruffle feathers. I have not heard any EU official say yes we should reduce Eu tariffs to 2.5 % from 10% .Lets be quite frank ,these should be identical in most cases.it needs to be done in a perhaps more friendly manner than Trump is accustomed to .The eU populations should be screaming at the Eu Politicians along with a brexit no deal .If I was teresa May it would be 30% duty on imports of finished items and 5% on parts wit hthis being given back to support industry.Witter towbars closing in the Uk going Eastern Europe they need slamming hard.Nestle manufacturing in cheaper places make then suffer with duty.
The French ,I do admire,they would not let there factories close and work go to say Poland .We are like the USA to _ucking soft in the head .Some would call it Corporate greed by the few. Wher edo you take it ,you could say vietnam is even cheaper and why pay £5 million to the Chief Exec and the whole Board costing say £30 million each year >I am sure you could replace them with Indian execs for 10 to 20 % of that. Rules for one and rules for the other . Then they get out of paying the taxes of most Countries after all this raping and pillaging.