Trump’s tariffs on auto imports will hurt entire car industry: Moody’s

The proposed U.S. tariffs on car imports will have far reaching negative implications for the whole auto industry, according to Moody's Investors Service. The research firm said higher tariffs will cause problems across the car industry's global supply chain. "Tariffs on imported cars, parts would be broadly credit negative for industry," Moody's said in a note to clients Monday. Build them here!" he tweeted on Friday. As part of tariffs expected to go online July 6, the administration also has put a 25 percent tariff on Chinese goods including autos.

US car makers warn Trump import tariffs are the 'greatest threat to the US automotive industry'

The Association of Global Automakers (AGA), which represents car giants with businesses in the US, said that Mr Trump's use of "Section 232" is wrong. This legislation allows import duties to be imposed on goods to protect industries which are vital to US national security. If duties were imposed, Mr Bozzella said it would lead to "inevitable retaliation against US exports". Earlier this week Mr Trump criticised Milwaukee-based Harley-Davidson when it said it would relocate production of motorbikes out of the US. In a tweet, Mr Trump warned if the company moved production overseas, it would "be taxed like never before!'

Trump car tariffs to hit hard Slovakian car industry says, analysts

as mentioned in The spectre of US tariffs that sent shares in Fiat Chrysler, Daimler and BMW tumbling on European stock exchanges also spooked Slovakia's automotive sector. The spectre of US tariffs that sent shares in Fiat Chrysler, Daimler and BMW tumbling on European stock exchanges also spooked Slovakia's automotive sector. This makes Slovakia the EU's leading car and car part exporter to the United States in terms of share of GDP -- and the most vulnerable to tariffs. Overall, the carmaking sector has a 44 per cent share of Slovakia's total industrial production and 35 per cent of its exports. A 25 per cent tariff on cars could cost Slovakia approximately 90 million euros, according to IFP calculations.

collected by :Catlin Logan