U.S. auto industry: Trump hit the wall on tariffs

As it stated in "The U.S. auto industry is thriving and growing," he said. Trump in March rolled out 25-percent tariffs on steel imports and 10 percent on aluminum, but offered temporary exemptions to the European Union, Canada, Mexico and a number of other allies. "Also, the auto industry is very cyclical, and if more manufacturing was moved to the U.S., we'd just increase our dependence and exposure to the waves of auto manufacturing and demand." "When the auto executives visited the White House, the president talked about imposing tariffs on imports. Trump is exploring the of tariffs of as much as 25 percent on auto imports, the Wall Street Journal said.

'It's a nightmare scenario': Trump tariffs would devastate auto industry, experts warn

As the Trump administration doubles-down on its threat to impose 25 per cent tariffs on auto imports, industry experts are warning that the move would devastate the North American auto industry and lead to job losses not only in Canada, but also in the United States. While it is yet to be seen whether the auto tariffs will come into effect, Trump seemingly reiterated his support for them in tweets over the weekend. David Adams, president of Global Automakers of Canada whose membership includes Toyota Canada Inc. and Honda Canada Inc., said the tariffs would present immediate difficulties for all auto manufacturers in Canada. You're not going to redirect current automotive production into the U.S. because of this."Many economist and auto industry experts agree that the immediate impact of the auto tariffs would be felt by American consumers. But she said the proposed 25 per cent tariffs "would be an entirely different consideration.

Trump's tariffs will have 'ripple impact' on Tennessee auto sector

as mentioned in Trump's tariffs will have 'ripple impact' on Tennessee auto sectorJamie McGee | USA TODAY NETWORK - TennesseePresident Trump's decision to move forward with steel and aluminum tariffs on U.S. allies holds sweeping implications for Tennessee's booming auto sector. European trade officials have previously threatened to retaliate with duties on U.S.-made goods. Senator Lamar Alexander, a Tennessee Republican, denounced the tariffs Thursday and said they would hurt the Tennessee workforce. "These tariffs will raise prices and destroy manufacturing jobs, especially auto jobs, which are one third of all Tennessee manufacturing jobs. European trade officials have previously threatened to respond to Trump's move with duties on U.S.-made motorcycles, orange juice and bourbon, among other things.

collected by :Catlin Logan

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