9 hours agoBusiness uncertainty, Trump reduces tariffs for US car industry
Periskopi(a year ago)
(a year ago)President Donald Trump's administration is preparing the decision to reduce the impact of automobile fees by facilitating several duties imposed on foreign parts in domestic-made vehicles and by keeping tariffs for vehicles produced abroad from collecting on others. President Trump is building an important partnership [...]
Vice President Trump is building an important partnership with both domestic automotive producers and our large American workers”, Secretary of Commerce Howard Lutnick said in a statement issued by the White House.
“This agreement is a major victory for the president's trade policy by rewarding companies that produce within the country, while offering lead to producers who have expressed their commitment to investing in America and expanding their domestic production”, Lutnick wrote. A2, report Periscope.
The <x0Wall Street Journal”, which first reported development, said the measure meant that car companies who pay fees would not be charged with other tariffs, such as those for steel and aluminum, and that the reimbursements would be given for such fees that were already paid.
A White House official confirmed the report and indicated that the move would be formalised Tuesday. Trump is travelling to Michigan on Tuesday to commemorate his first 100 days in office, a period the republican president has used to overturn global economic order.
The movement to ease the effects of vehicle taxes is the latest by its administration to show some flexibility in tariffs, which have planted turmoil in financial markets, have created uncertainty about businesses and have caused fears of a sharp economic slowdown. /Periscope/
