Mexican Media Brands
Trump: EU Can Avoid U.S. Tariffs by Lowering Its Own Import Taxes
President Donald Trump says the European Union faces U.S. tariffs of 25% on steel and 10% on aluminum unless the trade bloc lowers its “horrific barriers and tariffs” on goods from the U.S.
#aluminum #economics #labor
Share
President Donald Trump says the European Union faces U.S. tariffs of 25% on steel and 10% on aluminum unless the trade bloc lowers its “horrific barriers and tariffs” on goods from the U.S.
Trump also says the U.S. will levy “reciprocal taxes” against major trading partners that fail to reduce their tariffs on imported cars.
The EU, China and India currently impose taxes of 10%, 25% and 60%-75% on foreign-made vehicles, respectively. The U.S. rates are 2.5% for imported cars and 25% for imported vans and pickup trucks.
EU trade chief Cecilia Malmstrom says she received “no immediate clarity” in a meeting last weekend with U.S. Trade Representative Robert Lighthizer about how the U.S. is granting exemptions from the aluminum and steel tariffs.
Australia’s prime minister announced on Saturday that his country was exempted after a “productive” phone call with Trump. The president previously declared Canada and Mexico would be exempt from taxes on the two metals, pending a successful revamp of the North American Free Trade Agreement.
RELATED CONTENT
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.