HAPPENING NOW: Watch Chairman @senorrinhatch kick off a hearing on the effects of tariffs on the U.S. auto industry.http://go.usa.gov/xPD96
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Hatch: The auto industry has been particularly hard hit by steel and aluminum tariffs.
@USAutoCouncil estimates that these tariffs will cause a $400 per car price increase.Show this thread
Hatch: If the Commerce Department were to recommend a 25 percent tariff on cars, it would effectively raise the cost of an average imported car for an American family by as much as $6,400.
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Hatch: “Without question, any tariffs that are imposed will have a negative impact on the U.S. auto industry and our economy.”
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Find Hatch’s full opening statement from this morning's autos hearing here:https://go.usa.gov/xPD9A
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End of conversation
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You’ll do what trump tells you and like it brownnoser.
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The problem is the counter tariffs. BMW actually builds SUVs for China in the US in NC. BMW is shifting production elsewhere so it won't get caught in the trade war. VW, Toyota, Honda, Nissan, Mercedes all build in the US. They're likely going to shed workers in the US.
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People who are dozing on the tariff issue will wake up with the 25% car hit. Car sales, tax receipts, employment all negative.
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