Offbeat: Trump studying new auto tariffs after GM restructuring - - PressFrom - US
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OffbeatTrump studying new auto tariffs after GM restructuring

18:30  28 november  2018
18:30  28 november  2018 Source:   reuters.com

Bipartisan senators demand watchdog investigation into exclusions for Trump's tariffs

Bipartisan senators demand watchdog investigation into exclusions for Trump's tariffs A trio of senators on Monday demanded a Government Accountability Office investigation into the Trump administration's system for awarding exemptions to President Trump's steel and aluminum tariffs, citing fears about the fairness of the process. require(["medianetNativeAdOnArticle"], function (medianetNativeAdOnArticle) { medianetNativeAdOnArticle.getMedianetNativeAds(true); }); "[T]he Senate Finance Committee and industry groups have called on Commerce to clarify the criteria it uses to determine whether to grant an exclusion from the tariffs," wrote Sens. Pat Toomey, R-Pa.

U.S. President Donald Trump said on Wednesday that new auto tariffs were "being studied now," asserting they could prevent job GM did not directly comment on Trump ’s tweets, but reiterated that it was committed to investing in the United States. On Monday, the company said it would shutter five

President Donald Trump on Wednesday said new auto tariffs are "being studied now," asserting they could prevent job cuts such as the U.S. layoffs The company has no plans to shift production of those vehicles to other markets. Related video: What does GM restructuring mean for Americans and the

President Donald Trump on Wednesday said new auto tariffs are "being studied now," asserting they could prevent job cuts such as the U.S. layoffs and plant closures that General Motors announced this week.

Trump said on Twitter that the 25 percent tariff placed on imported pickup trucks and commercial vans from markets outside North America in the 1960s has long boosted U.S. vehicle production.

"If we did that with cars coming in, many more cars would be built here," Trump said, adding "and G.M. would not be closing their plants in Ohio, Michigan & Maryland."

Just ahead of talks with Xi, Trump won't back down on higher tariffs on China

Just ahead of talks with Xi, Trump won't back down on higher tariffs on China WASHINGTON — President Donald Trump, heaping pressure on China to make trade concessions ahead of his meeting with Chinese President Xi Jinping this week, is signaling that he will not back down from his plan to escalate tariffs in January. Administration officials have been making arrangements for a meeting between Trump and Xi on the sidelines of the Group of 20 summit in Argentina on Friday and Saturday. And with both sides previously indicating a willingness to make a deal, that had raised hopes that Trump could announce a freeze on his previously stated plan to raise tariffs on imported Chinese goods Jan. 1.

President Donald Trump said Wednesday that the U.S. government is studying tariffs on cars built overseas after General Motors announced a restructuring Shares of GM fell to their lows of the day after Trump 's comments, but closed 0.7 percent higher. General Motors announced Monday that it

Trump said on Twitter that the 25 percent tariff placed on imported pickup trucks and commercial vans from markets outside North America in the 1960s had long boosted U.S. vehicle production. "If we did that with cars coming in, many more cars would be built here," Trump said

The United States currently has a 2.5 percent tariff on imported cars and sport utility vehicles from markets outside North America and South Korea.

GM did not directly comment on Trump's tweets, but reiterated that it was committed to investing in the United States. On Monday, the company said it will shutter five North American plants, stop building six low-selling passenger cars in North America and cut up to 15,000 jobs. The company has no plans to shift production of those vehicles to other markets.

The administration is considering imposing dramatic new tariffs on imported vehicles.

"The President has great power on this issue - Because of the G.M. event, it is being studied now!" Trump said.

The U.S. Commerce Department has circulated draft recommendations to the White House on its investigation into whether to impose tariffs of up to 25 percent on imported cars and parts on national security grounds, Reuters reported earlier this month.

AP FACT CHECK: Trump spreads false claims on immigrant aid

AP FACT CHECK: Trump spreads false claims on immigrant aid President Donald Trump is spreading a false claim from supporters that people who are in the United States illegally receive more in federal assistance than the average American gets in Social Security benefits.Everything about the tweet he passed on to his 56 million listed Twitter followers Tuesday is wrong.In a tweet of his own, Trump sketched an overly simplistic portrait of the auto industry in suggesting that General Motors plants slated for closure would be chugging along if foreign cars were heavily taxed in the U.S. market.IMMIGRATIONTRUMP's

U.S. President Donald Trump said Wednesday that new auto tariffs were "being studied now," asserting they could prevent job cuts such as the Several automakers said privately on Wednesday that they feared GM 's action could prompt Trump to act faster than expected on new tariffs .

By David Shepardson WASHINGTON (Reuters) - U.S. President Donald Trump on Wednesday said new auto tariffs are "being studied now," asserting FILE PHOTO: U.S. President Donald Trump talks to reporters before boarding the Marine One helicopter to begin his travel to Mississippi from the

The White House has pledged not to move forward with imposing tariffs on the European Union or Japan as long as it is making constructive progress in trade talks.

Trump wants the EU and Japan to buy more American-made vehicles. He wants the EU and Japan make trade concessions including lowering the EU’s 10 percent tariff on imported vehicles and cutting non-tariff barriers.

The prospect of tariffs of 25 percent on imported autos and parts has sent shock waves through the auto industry, with both U.S. and foreign-brand producers lobbying against it.

The White House in recent weeks has reached out to the chief executives of German automakers including Daimler AG , BMW AG and Volkswagen AG about meeting to discuss the status of auto trade.

AP FACT CHECK: 'Tariff Man' Trump wrong on import taxes.
President Donald Trump promised on Twitter that tariffs would maximize the country's economic heft and "MAKE AMERICA RICH AGAIN."Almost all economists say the president is wrong. That's because tariffs are taxes on imports. They can cause higher prices, reduce trade among countries and hurt overall economic growth as a result.The president's tweet on Tuesday followed an announcement that the U.S. would not increase a 10 percent tariff on $200 billion of Chinese goods in 2019. The two largest countries are in the middle of negotiating their terms of trade, after Trump said cheap imports from China were impoverishing the United States.

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