Politics: Trump could slap steep tariffs on imported cars next week - - PressFrom - US

Politics Trump could slap steep tariffs on imported cars next week

18:05  08 november  2019
18:05  08 november  2019 Source:   businessinsider.com

Apple wants iPhone components and more excluded from tariffs, report says

  Apple wants iPhone components and more excluded from tariffs, report says The company is also reportedly seeking exemptions for electronics like the HomePod, AirPods and the storage components for the Mac Pro.The tech giant is also reportedly looking to avoid tariffs on other products, like the HomePod ; the Beats Pill Plus wireless speaker; AirPods and Beats wireless earbuds; the iPhone smart battery case ; charging cases for AirPods and the PowerBeats; the storage components for the Mac Pro ; and the batteries for the iPhone and MacBook , Bloomberg reported.

The Center for Automotive Research estimated Trump 's proposed 25% tariff would add up to ,875 to imported vehicle prices. It indicates an expandable section or menu, or sometimes previous / next navigation options.

WASHINGTON — President Trump slapped steep tariffs on imports of washing machines and For imported washing machines, the president approved a combined tariff and quota for the next three They also fought against restrictions on imported parts, saying those could slow operations at

Weeks after General Motors ended one of its longest strikes in years, the American car industry could be headed for more turbulence.

After an initial six-month delay, President Donald Trump must decide by Nov. 13 whether to follow through with threats to levy tariffs on automobile imports. The U.S. Commerce Department drew backlash from business groups and lawmakers in February after it concluded that car imports pose a threat to national security.

While Trump has continued to threaten the move against Asian and European trading partners, Commerce Secretary Wilbur Ross said over the weekend that the tariffs might not be necessary.

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European auto stocks extended losses on Tuesday after a German magazine reported that U.S. President Donald Trump could impose tariffs on imported cars from next week . The European Commission, which oversees trade policy for the 28-member European Union

"We have had very good conversations with our European friends, with our Japanese friends, with our Korean friends, and those are the major auto-producing sectors," Ross said in an interview with Bloomberg.

The Center for Automotive Research estimated in a report last year that the proposed 25% tariffs would add up to $6,875 to imported vehicle prices. Average car prices overall would increase $4,400, the group said. Economic research groups have reached similar estimates.

"The uncertainty created by the current and potential tariffs on autos and auto parts may also reduce investment," the nonpartisan Congressional Research Service said in June. "Ultimately, the tariffs could increase the price of motor vehicles sold in the United States, prompting some consumers to delay purchases or purchase used cars instead of new vehicles, and generating inflationary pressures."

The Commerce Department did not immediately make its findings regarding car imports and national security available to lawmakers, who have expressed widespread opposition the prospect of auto tariffs. Nearly 160 bipartisan members of Congress warned against car tariffs in a May letter to White House economic adviser Larry Kudlow.

"We are convinced that the products hard-working Americans in the auto sector design, build, sell, and service are not a threat to our national security," the letter said. "We strongly urge you to advise the President against imposing trade restrictions that could harm the auto sector and the American economy."

China says US agrees to tariff rollback if deal reached .
China and the U.S. have agreed to roll back tariffs on each other’s goods in phases as they work toward a deal between the two sides, a Ministry of Commerce spokesman said. “In the past two weeks, top negotiators had serious, constructive discussions and agreed to remove the additional tariffs in phases as progress is made on the agreement,” spokesman Gao Feng said Thursday.“If China, U.S. reach a phase-one deal, both sides should roll back existing additional tariffs in the same proportion simultaneously based on the content of the agreement, which is an important condition for reaching the agreement,” Gao said.

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