'This is madness': Auto industry warns U.S. lawmakers of dire tariff consequences

ADVERTISEMENTSome of the loudest voices came from the American auto industry — the companies and workers that the levies are ostensibly trying to protect. Representatives from American car makers were uncharacteristically united this week, showing up in Washington, D.C., to voice their opposition to car imports. That's because American companies and consumers would bear the brunt of the punishment if the tariffs come to pass. A look at some of the numbers behind Canada's car industry and how much tariffs would hurt. Vaughan, Ont.-based Martinrea makes auto parts, and the company components cross the border several times between plants in the U.S. and Canada.

Auto components industry seeks uniform 18% GST on all products

Auto component industry today sought uniform 18 per cent GST across the sector stating that low taxation would lead to better compliance and and larger tax base. The industry, which reported a growth of 18.3 per cent to Rs 3.45 lakh crore in 2017-18, said the lower tax levy would also help in curtailing flourishing of grey operations in the aftermarket. "One of the key demands of the industry has been a uniform 18 per cent GST rate across the auto component sector. Currently 60 per cent of the components attract 18 per cent GST rate, while the rest 40 per cent, majority of which are two-wheelers, and tractor components attract 28 per cent," ACMA President Nirmal Minda told reporters here. Automotive Component Manufacturers Association of India (ACMA) further sought creation of a fund to support indigenous research and development (R&D) and technology creation in the component industry.

Auto industry group opposes curbs on foreign cars - Business News

referring to "Thailand is exporting more than 1.3 million cars a year and Indonesia more than 100,000 vehicles. "What we don't want is further incentives being provided for the new national car, which will really disrupt the industry. It does not help the industry at all," she explained.On electric cars, Aishah said further investments and incentives were needed to grow the segment, which only saw 13 cars sold last year. "The previous government allowed foreign cars to come in without giving Proton the opportunity to expand overseas," he said.This, he explained, had created difficulties for the national carmaker to compete with global automotive giants. "There is a need to impose certain conditions to limit foreign cars' access to the local market," he added.

collected by :Catlin Logan