US President Donald Trump
Donald Trump Tariff Policy: US President Donald Trump has announced that 25 percent tariffs will be imposed on all foreign cars imported in the US. Trump has also made it clear that this decision of tariff is permanent. President Trump said that America will effectively impose 25 % tariffs on all the cars which are not made in the country. He said, but if you make your car in America, then there will be no tariff on it. According to estimates, the US will get a tax collection of about $ 100 billion. After Trump’s decision, reactions of others including Canada and European Commission have also come to light.
What did Canada say?
Canadian Prime Minister Mark Carney described the US 25 per cent tariff on auto imports as a direct attack on her country and said that it would harm not only Canada but also the US economy. He said that this tariff war is not good for not only Canada, but itself. He said that trust in the US consumers is at the lowest level of many years.
Reaction of Chairman of European Commission
Ursula von Der Leyen, president of the European Commission, regretted Trump’s latest tariff decision and said its economic impact would be assessed. He said in a statement, “Tariffs- these are bad for businesses, equally worse for consumers.” He said that the European Union “will continue to find solutions through dialogue, protecting its economic interests.”
What did the UK industry body say?
The UK Industry Bodies, Society of Motor Manufacturers and Traders (SMMT) said that Trump’s decision will harm both American and British businesses and consumers. SMMT CEO Mike Hows said that the step is “not surprising, but still disappointing, it is a shock.”
‘Tariff will have the opposite effect’
Autos Drive America, which is a lobbying group for non-American car manufacturers, warns that the new tariff will be adversely affected. Group president Jennifer Safavian said in a statement, “Tariffs will make and sell cars in the United States more expensive, which will increase prices, will be less options for consumers and will reduce manufacturing jobs in the US.”
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