Automobile tariffs
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With Honda talking about relocating Canadian and Mexican plants to make 90% of what is sold in the US made here, I thought it would be a good time to look at international auto tariffs. India has a 120% tariff on American cars. With all the money America pours into that country?
https://worldpopulationreview.com/country-rankings/automobile-tariffs-by-country
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Is Trump right when he says the US faces unfair trade?
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Not sure about automobiles, but in general, when President Trump announced X% tarriff on country Y to make it equal to what he imagined was the tariff country Y was imposing, he was quite wrong in a lot of cases.
For example, he put a 72% tariff on thailand becuase "that is the tariff they impose on the US.". No, thats not the case. The 72% basically comes from the trade imbalance with Thailand. Nothing really to do with tariffs.
And he did this with other countries as well. THe problem is that for "poor" countries, the people just dont have the money to buy US products, so trying to increase tariffs to solve a trade balance just wont happen. Not very difficult to understand.
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Not sure about automobiles, but in general, when President Trump announced X% tarriff on country Y to make it equal to what he imagined was the tariff country Y was imposing, he was quite wrong in a lot of cases.
For example, he put a 72% tariff on thailand becuase "that is the tariff they impose on the US.". No, thats not the case. The 72% basically comes from the trade imbalance with Thailand. Nothing really to do with tariffs.
And he did this with other countries as well. THe problem is that for "poor" countries, the people just dont have the money to buy US products, so trying to increase tariffs to solve a trade balance just wont happen. Not very difficult to understand.
@taiwan_girl said in Automobile tariffs:
Not sure about automobiles, but in general, when President Trump announced X% tarriff on country Y to make it equal to what he imagined was the tariff country Y was imposing, he was quite wrong in a lot of cases.
For example, he put a 72% tariff on thailand becuase "that is the tariff they impose on the US.". No, thats not the case. The 72% basically comes from the trade imbalance with Thailand. Nothing really to do with tariffs.
And he did this with other countries as well. THe problem is that for "poor" countries, the people just dont have the money to buy US products, so trying to increase tariffs to solve a trade balance just wont happen. Not very difficult to understand.
No question of that. And he and his administration know that. They also know that you and everyone else knows that. SOP, this is what he does, makes some truly outlandish, preposterous, and just ridiculous claims and proposals. Then when everyone is sputtering and indignant, he doubles down. Then he feels that he has better control over the situation. Right or wrong (and I find it an abhorrent practice), it works for him.
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Not so fast. Not according to Honda:
After a Japanese newspaper reported that Honda was considering moving some of its production out of Canada and Mexico and into the U.S., a spokesperson for the automaker’s Canadian branch has shared a statement.
“This was not an announcement by Honda and we cannot comment on the specifics of this morning's headlines,” the spokesperson said.
“However, we can confirm that our Canadian manufacturing facility in Alliston, Ont., will operate at full capacity for the foreseeable future and no changes are being considered at this time.”
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General Motors’ (GM.N), opens new tab Buick was on a roll. Sales for the once-stodgy brand were up 39% in the first quarter with a refreshed lineup of compact SUVs including the Envision, Encore GX, and the Envista, its top-selling SUV for under $30,000.
Then President Trump’s tariffs hit.
Buick’s three most popular models are made outside the U.S. The Envista and Encore GX are both built in South Korea, while the Envision SUV is made in China.
