Tariffs are the greatest! Either a country which has treated the United States unfairly on Trade negotiates a fair deal, or it gets hit with Tariffs. It’s as simple as that - and everybody’s talking! Remember, we are the “piggy bank” that’s being robbed. All will be Great!— Donald J. Trump (@realDonaldTrump) July 24, 2018
"Higher new car prices will drive some consumers into the used vehicle market where prices will also be higher due to heightened demand and constricted supply — producers cannot make more used vehicles," the report stated. "Higher automotive parts prices are also likely to drive up the price of vehicle maintenance and repair, so even holding on to an existing vehicle will become more expensive. Manufacturers that import vehicles to the U.S. market may choose to no longer offer specific models — which is especially likely for small cars that are offered at lower price points to consumers who cannot afford increased vehicle prices due to tariffs."
“Let me be very clear: Companies in our industry are so deeply intertwined that our fate is a common fate. Manufacturers heavily rely on open markets, due to our integrated and interdependent supply chains. We can either grow together — or fall together,” Mattes said.
Mattes said additional tariffs will cut deeply into the tightly knit net between our companies. They would threaten our ability to export successfully out of the U.S. and call future investment into question. Tariffs on U.S. products will not only harm exports, but undermine competitiveness and strengthen other production locations with severe negative effects on investment and employment in the U.S.
“This scenario terrifies me — and things can be made worse by countermeasures which other countries could take. Such a scenario, rather than free trade between partners, is a risk to national security. U.S. national security relies on its economic performance," Mattes said.
This is one of the most ridiculous things I’ve ever heard. “Import” cars are made in the United States. Every car has “imported” parts. If you’d like to crash the global economy, this would be a fantastic way to do it. Stop this protectionist idiocy at once! Perhaps try having an actual adult economist make trade policy instead of a petulant child.
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