German automakers may be ready for EU to drop tariffs on U.S. cars
Our allies' view: "No leader is forever."
WASHINGTON/PARIS — Canada and Mexico retaliated against the U.S. government's decision on Thursday to impose tariffs on steel and aluminum imports, and the European Union had its own reprisals ready to go, reigniting investor fears of a global trade war. The tariffs, announced by U.S. Commerce Secretary Wilbur Ross in a telephone briefing on Thursday, ended months of uncertainty about potential exemptions and suggested a hardening of the Trump administration's approach to trade negotiatio
General Motors chief Mary Barra said today her company needs a level playing field on trade with other countries, with equivalent or no tariffs in order to successfully compete in a global auto industry. She made her comments during a "Talks at GS" conversation with Goldman Sachs Chairman and CEO Lloyd Blankfein that was carried by Yahoo Finance, a sister site to Autoblog.
German carmakers BMW and Daimler are under increasing pressure to diversify production of their sports utility vehicles (SUVs) outside of the United States as a result of Washington's growing trade tensions with China. Beijing's proposed 25 percent tax on U.S. car factory exports will hit nearly 270,000 vehicles, with German carmakers accounting for $7 billion of the $11 billion total.
U.S. steel and aluminum companies were pleased, however.
The U.S. goods trade deficit with South Korea has more than doubled since the U.S.-Korea free trade pact known as KORUS took effect in 2012.
WASHINGTON - The Trump administration on Thursday formally launched its effort to renegotiate the North American Free Trade Agreement with Canada and Mexico to try to win better terms for US workers and manufacturers. With a letter to lawmakers, Trade Representative Robert Lighthizer said he triggered a 90-day consultation period with Congress, industries and the American public that would allow talks over one of the world's biggest trading blocs to begin by Aug 16. Renegotiation of NAFTA was
Developing cars for different markets is very costly, and finding a way to unify regulations could dramatically reduce those costs.
The trade dispute affecting the Chinese and US auto industries may be cooling off, as the Asian country has announced an end to controversial duties levied on some American-made vehicles. According to Reuters, this was largely in retaliation to US import tariffs on Chinese-made tires in 2009.
We get very excited here at Autoblog when someone brings up a rare car from the Japanese domestic market, even if they are distantly related to cars we can buy in the US, like the Toyota Crown Royal Saloon Hybrid our own Sebastian Blanco tested last month. But while we think often about JDM cars, the reality is that the market is far different than what we imagine. It's largely made up of tiny, 660-cc kei cars that are ultra affordable and sip fuel.
The Detroit News reports automakers are coming out in support of proposed free trade legislation between the US and the European Union. The Association of Global Automakers, representing major Asian manufacturers, says the Transatlantic Trade and Investment Partnership will promote economic growth, increase jobs and make US and EU companies more competitive on the global market. The legislation will also open the door for EU and US regulators to agree on one standard for emissions, crash protect
Trade issues between the United States and Japan, especially in the automotive sector, have struck a repetitive note for decades: our market is open to them, their market is effectively closed to us. Even though Japan doesn't apply tariffs to cars we export there – whereas we tax Japanese passenger cars 2.5 percent and Japanese light trucks 25 percent – other barriers like Japan's 2,000-unit cap in the Preferential Handling Program and regulatory hurdles have limited the amount of ef
France has been vocal, but not alone, in noting the rise of the South Korean automakers in Europe. The signing of a free-trade pact in 2011 between South Korea and the EU, along with the especially value-conscious buyers in a crisis-stricken Europe, has seen market share increases measuring in the double digits for Hyundai and Kia – analysts expect 14-percent growth for the two in 2012.
In 2010, domestic automakers shipped about 7,500 vehicles to Korea, representing less than one percent of its auto market. To add insult to injury, well over half a million Korean cars were sold here. But that could all change, according to Ford CEO Alan Mulally, who told The Detroit News that a new trade agreement "will open new opportunities for Ford to reach even more Korean customers."
Han Duk-soo, the South Korean ambassador to the United States, recently urged the Detroit Chamber of Commerce to embrace increasing automotive imports from his country. Talk about a tough sell. However, the move would be part of a deal that would open South Korea to cars built in America – a market that has been notoriously protected by tariffs and other barriers. Duk-soo said that eliminating America's 2.5 percent tariff on cars built in South Korea would allow his country to do away with
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Chinese-market 2010 Buick Regal – Click above for high-res image gallery
Yesterday the U.S. International Trade Commission lifted tariffs on imported steel from Australia, Canada, France and Japan, and there was much rejoicing in the boardrooms of many automakers that build cars and trucks in the U.S. The tariffs were originally put in place on cheap steel imported into the U.S. from a total of six countries that threatened to collapse the U.S. steel industry back in 1993. Some 13 years later, the U.S. steel industry is healthy, and the tariffs that once were helpful