Automakers to warn Trump of $45 billion greater car prices if tariff imposed

WASHINGTON (P3PWriter) – An automotive commerce group mentioned on Tuesday it could inform the Trump administration U.S. risk to impose a tariff of as much as 25 p.c on imported passenger autos underneath nationwide safety grounds would price American customers $45 billion yearly, or $5,800 per car.

FILE PHOTO: The Mercedes emblem is seen on a car on the New York Auto Present within the Manhattan borough of New York Metropolis, New York, U.S., March 29, 2018. P3PWriter/Shannon Stapleton/File Picture

The Alliance of Car Producers, a bunch representing Common Motors Co (GM.N), Toyota Motor Corp (7203.T), Volkswagen AG (VOWG_p.DE) and different main automakers, will file written feedback with the U.S. Commerce Division later this week, spokeswoman Gloria Bergquist mentioned.

“Nationwide, this tariff would hit American customers with a tax of practically $45 billion, based mostly on 2017 auto gross sales. This may largely cancel out the advantages of the tax cuts,” Bergquist mentioned, previewing the feedback. Customers would additionally face greater prices of imported auto elements when shopping for autos from each U.S. and overseas automakers, she mentioned.

Reporting by David Shepardson; modifying by Grant McCool

log in

reset password

Back to
log in