Sen. Doug Jones: Tariffs could be 'devastating' for Alabama's auto industry

referring to Alabama Sen. Doug Jones is taking a stand against President Trump's recent proposal to place a 25 percent tariff on imported cars, trucks and auto parts, stating that these tariffs will have a devastating effect on Alabama's economy and the jobs that the automotive industry has created. "There is evidence suggesting that, for decades, imports from abroad have eroded our domestic auto industry," Ross said in a statement. Jones told media members in a Thursday morning conference call that, along with Sen. Lamar Alexander from Tennessee, he sent a bipartisan letter Thursday morning to Ross stating that the auto industry does not pose a national security threat. Jones went on to say that employment in Alabama's automotive manufacturing sector is approaching 40,000 jobs and motor vehicle exports topped $7.75 billion in 2017. The incoming plant is a $1.6 billion joint venture between the two auto companies, which will bring another 4,000 jobs to Alabama.

Auto industry growth: 'Time to kick-start sustainable growth in auto industry'

Transformation to electric cars is inevitable in India, which poses a great opportunity to the automotive industry. A corporate rate tax cut from the present 30% to 27-28% would help the industry.Indirect tax – Simplify existing GST rate structure for the automobile sector. Alternative powertrains: The government must recognise that electric vehicles are easier to make and are simpler than IC engines. R&D spends on new cars, EV designs for cars, bio-fuels like ethanol and electric powertrain will increase. **The views carried in the article are of ILC members in entirety, and not of Deloitte or ET.

The auto industry is vital to our national security interests

referring to A healthy, progressive industrial sector developing military products and applications can only exist simultaneously with a healthy civilian industry. The only way to build and sustain a world-class military industry is to share costs with a civilian industry. Historically, the civilian and military motor vehicle industry have always been intertwined. A successful motor vehicles industry uses thousands of specialized parts. The vehicle industry continues to be vital for the health of the civilian economy too.

Trump tariffs may cost US auto industry 1 million car sales a year

The projection by researcher LMC Automotive assumes carmakers would absorb at least half the cost of a tax on imported vehicles, said Jeff Schuster, senior vice-president of forecasting. If companies pass the full 25 per cent cost on to consumers, it could snuff out about 2 million sales, or more than 10 per cent of annual US deliveries, he said. She did not directly answer when asked how a 25 per cent imported vehicle tariff would impact the company. LMC estimates that GM will sell 1.16 million imported vehicles in the US this year, about 39 per cent of the company's total deliveries. If Trump follows through with the 25 per cent tariff, Schuster said US consumers would likely react in three ways.




collected by :Catlin Logan