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· China has just lowered tariffs, Trump launched 232 to investigate US auto import tariffs or increase to 25%
Shortly after China and the United States announced that they would not fight the trade war, the Chinese Ministry of Finance officially announced the announcement of the reduction of automobile tariffs. From July 1, 2018, the import tariffs on automobile and parts will be reduced. Among them, the tariffs on automobiles will be lowered by 10%. To 15%, the car parts fell to 6%.
But the United States seems to have another big thing. According to overseas media reports, the US Department of Commerce announced that it will launch a 232 investigation on imported cars, SUVs, light trucks and vans. The investigation will determine whether imports will cause damage to the domestic auto industry and weaken the country. Safety.
It is worth mentioning that Trump said on Twitter on the same day that some actions for automakers are coming. He said: "For our great American carmakers, there will be a major news coming soon. After decades of lost employment, you have waited too long."
According to the Wall Street Journal, the Trump administration is considering raising the import tariff on cars to 25%. The plan is still in its infancy and may face strong opposition from a number of interest groups, including foreign trading partners and domestic import car dealers.
According to US official data, the United States imported a total of 8.3 million vehicles last year, with a total value of $192 billion, including 2.4 million in Mexico, 1.8 million in Canada, 1.7 million in Japan, and 500,000 in Germany.
Some analysts believe that Trump's move will force Canada and Mexico to make concessions on auto-related provisions in the North American Free Trade Agreement (NAFTA) negotiations, while at the same time pressureing a large number of export cars to Japan and the United States.