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Alliance statement in response to May 17th deadline for Section 232 auto report

Auto News - Published on Tue, 21 May 2019

Image Source: The Economic Times
“The case remains clear – cars are not a national security threat. We are deeply concerned that the administration continues to consider imposing auto tariffs. By boosting car prices across the board and driving up car repair and maintenance costs, tariffs are essentially a massive tax on consumers. The higher prices would lower consumer demand and could lead to the loss of as many as 700,000 American jobs. The tariffs would also roll back the benefits from the Trump tax cut and have widespread impact across manufacturers, suppliers, and dealers in all 50 states.

“Since 2017, domestic and international automakers are investing $22.8 billion in new and existing facilities in the United States largely spurred by this administration’s pro-growth policies. However, increased auto tariffs threaten to undo this economic progress. At the end of the day, you can have tariffs or investment, but you can’t have both.”

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Posted By : Rabi Wangkhem on Tue, 21 May 2019
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