US President Donald Trump could possibly impose in the coming week customs duties on imported motor vehicles. The Wirtschaftswoche reported, citing EU circles. An investigation report by the U.S. Department of Commerce sun, therefore, already on the table of the American President. The Ministry had prepared a study, whether the Import of cars is a threat to the national security of the United States. Citing the protection of national security Trump had already imposed duties on steel and aluminum.
the US Commerce Secretary Wilbur Ross had initiated this audit for cars in may of this year. The results were not published so far. Trump should impose to Meet the duties in accordance with the G20, the on 30. November and 1. December in Buenos Aires.
according to The report, the U.S. recommends the Ministry of Commerce import duties of 25 percent on all cars from all countries except Canada and Mexico. Exceptions for certain types of passenger Cars will not give it. “The report recommends wide-ranging measures as possible,” it said according to the magazine, from EU circles.
The Index of European auto stocks fell after the magazine’s report of 2.5 percent. The shares of Volkswagen, BMW and Daimler lost.
In July, Trump EU Commission President Jean had said-Claude Juncker, not to impose any new customs duties against Europe, as long as the US and the EU are negotiating the removal of trade barriers. From the White house, the U.S. Department of Commerce and the EU Commission were to receive no comments. A Commission spokesman said that EU trade Commissioner Cecilia Malmström will not fly, as the business week reported on Wednesday to Washington. The Brussels authority in negotiating foreign trade matters for all 28 EU members.
Trump seems to want to increase tariffs against China,
In an Interview with the Wall Street Journal, the U.S. President sparked also concerned about the expansion of the trade dispute between the United States and China. He considered that the existing duties on Chinese Goods would be increased to 25 by ten percent, said Trump. On the sidelines of the G20 summit, a Meeting between Trump and Chinese President Xi Jinping is scheduled.
According to the assessment of Trumps economic adviser Larry Kudlow to an agreement in the trade dispute between the US and China would still be possible. The aim was to continue the mutual duties to Zero to shut down. For this purpose, must confess to China but to to free, fair and reciprocal trade. In the case of the bilateral dinner in Buenos Aires there is a Chance that it comes to an agreement in the trade dispute. However, certain points must be clarified. There is also a commitment of China to the waiver of the theft of intellectual property for the United States for a long time. This is a concern for Western companies and governments for decades.
Also mentioned Trump in the Interview with the Wall Street Journal possible duties on Smartphones and computers. In order to keep the impact on consumers is limited to computers and Smartphones, except so far. According to the latest estimates made by the U.S. President, a duty of ten per cent is likely to trigger but no major dislocations.
Trump is threatening General Motors, with a subsidy stop
Trump has also encouraged the Management of General Motors production in China. Then, the share of the US car maker, fell 1.5 percent. GM had announced on Monday to curb domestic production and therefore to dismiss staff, as well as some production facilities to close. By the measure of 15,000 employees could be affected. As the main reasons of the weakening U.S. sales of small Cars and increased material costs. Important precursors for the car industry but also by the Trump himself introduced special duties on steel will be more expensive.
As a response to the savings plan, Trump threatened the carmaker with the removal of subsidies. His government is considering at the moment, all the government subsidies to GM set, including those for electric cars, wrote Trump on Twitter. He was very disappointed by General Motors and the company’s boss Mary Barra. “In Mexico and China, nothing is closed. The USA have rescued General Motors, and this is the THANKS we get!”, Trump wrote.
….for electric cars. General Motors made a big China bet years ago when they built plants there (and in Mexico) – don’t think that bet is going to pay off. I am here to protect America’s Workers!
— Donald J. Trump (@realDonaldTrump) 27. November 2018,