Some fear steel tariff can injury auto industry in the South

ATLANTA (AP) — German business leaders are expressing worries which President Trump's 25 % tariff on imported steel can affect the auto industry in the South. AdvertisementTrump signed a proclamation final 7 days to impose a 25 % tariff on steel from every country except Canada & Mexico. There's a lot of steel in there," Mair said at the grand opening of the Georgia headquarters complex. "only the opposite of what President Trump thinks he's trying to achieve."He said the steel tariffs can trigger a trade war which would go beyond the auto industry. "These foreign nations which we're will put these importation taxes on, these tariffs, aren't stupid," Rosensweig said.

Some fear steel tariff probably injury Southern auto industry

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Fiat, Volkswagen probe investment in Egypt's auto industry

as mentioned in A Inc. logo is seen on a Fiat vehicle displayed on media day at the Paris Mondial de l'Automobile, September 28, 2012. REUTERS/Christian HartmannCAIRO – 28 March 2018: The Italian Fiat & German Volkswagen automakers are considering investing in the auto industry field in Egypt, according to Khaled Abdel Azim, executive director of the Federation of Egyptian Industries (FEI).Abdel Azim added to a native newspaper that the 2 companies conducted meetings by the federation's board final 30 days to assess the native economy & its appropriateness to pump investments inside Egypt.For Fiat, Abdel Azim said that the Inc. is differentiating among Egypt, Morocco & South Africa in order to build a factory in one of them.The 2 companies inquired about the ruling frameworks for investment in Egypt & the availability of feed industries, in addition to the declaration of the strategy of the automotive industry, Abdel Azim said.Minister of Industry & Foreign Trade Tarek Kabil said earlier that an auto industry strategy going to come to light early this year, clarifying that a consulting firm in Germany going to formulate the strategic articles, in light of remarks made by Parliament & the Ministry of Industry.Similarly, a delegation from French multinational group Renault conducted field trips to a number of native vehicle assembly lines by the Egyptian International Motors Inc. (EIM) – their agents in Egypt – as a portion of their researches to assemble some of their models in Egypt.This break news followed Kia Motors' declaration of signing contracts by its native agents to assemble Kia cars in Egypt by an investment of LE four.24 mn ($240,238) during the upcoming five years.Kayan Egypt too reported that the Inc. can begin assembling chair cars locally by 2020, by expectations that assembling the vehicle locally would reduce its value from 25 to 30 %.Toyota started an assembly line in Egypt in 2012 by collecting vehicle portions for the Toyota Fortuner; When in 2017, Toyota released a similar line of Fortuner at the Arab American cars Co. by investments of $eight.five mn.According to Kabil's earlier statement, current investment in the auto industry is about $three bn, of that $one.six bn is in the automotive industry & $one.four bn is in the feeder industries, by about 86,000 workers that work in the auto & feeder industries.The vehicle industry in Egypt has about 170 companies, including 19 companies that manufacture & assemble cars of all kinds, including passenger cars , buses, micro & minibuses, & transport cars, When further than 150 companies engaged in the manufacture of a number of components of cars .native market volume reached hundred,000 cars in 2017, 50 % of that are locally produced, & the exports of the automotive sector & the feeder industries amounted to $700 mn in 2017.meantime, Egypt postponed applying the decline of customs on cars assembled in the Eu to zero until 2020.

collected by :Catlin Logan