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Trump announces 25% tariffs on car imports to US
Tags: Current Focus, Renewal America, United States, Canada, Germany, Italy, China, Japan, South Korea, Mexico, Automobiles, Capital Markets, The Economy, Movement for Renewal of America, 3. Income and Wages Fairness, 5. Bringing Jobs and Factories to the US, 6. Capital Allocation for Infrastructure, Goods and Services, 7. Democracy Support Action, 10. Health- Body/Mind Wellbeing for All ,
A 2024 Study by the International Trade Commission predicted that a 25% tariff on imports would reduce imports by almost 75 percent while increasing average prices in the US by about 5 percent.
As US companies have about half of the US auto market this would mean US auto manufacturers now have access to an additional 37 percent of the market by investing in auto plants in the US. US steel and aluminium plants will get additional investment to build these cars in the US.
There is nothing new about this the US makers built plants in China. Germans, Japanese and Koreans took the US for stupid by keeping US cars out of their markets and thinking this could go on while by destroying US manufacturing it was destroying America's middle class. It also gives the Germans BMW and VW, Subaru, the Japanese Toyota and Honda, Nissan, the South Koreans Kia and Hyundai, Chinese makers of EV's the option to Make in the USA and build plants invest in US manufacturing.
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