Jul.01 — Auto companies and parts suppliers are urging the Trump administration not to impose tariffs on imported cars. BMW has joined Hyundai and General Motors in opposing the move and have written to Commerce Secretary Wilbur Ross. Bloomberg’s Angus Whitley reports on “Bloomberg Markets: Asia.”

Author Since: Sep 20, 2018

  1. Excessive tariffs is just a way to weaken the US' relations with Canada, Japan, close allies that generally oppose Russian aggression. It's meant to tear those allies apart. And it's already working, pushing Japan closer to the EU and away from America.
    Republicans already tried tariffs long ago and it never panned out. The real solution is to empower Americans with greater access to education, resources, etc to enable them to create businesses to create jobs themselves. Not rely on a handful of corporations who simply can't create enough good paying jobs for all Americans.

  2. Does Putin write trade policy for Donald?
    The auto worker is being replaced with robots. Don't care what country they sit in.
    Might as well go fight another dying useless industry – Coal.
    If Donald had any smarts he'd double down on renewable energy and build for the future.
    Instead they do the opposite.
    Good luck America.

  3. It appears that Trump means to force American companies to come back to the U.S. and make cars and for foreign companies to open manufacturing plants in the U.S. to sell their cars. The same goes for parts. Corporations are not in the business to absorb costs so U.S. consumers would ultimately be paying more. Trump may be thinking that more jobs and more income would make U.S. consumers feel secure and thus spend freely to keep the economic machine running. This is a problem as a vast majority have very little savings for emergencies or their future retirement. This puts a drain on social services and the gap between the haves and have-nots gets wider. This eventually leads to social unrest. Trump is also advocating the raping of our wilderness and pollution of our fresh water and oceans as a quick fix to the economic situation. This short term vision only serves to make CEO's and board members richer and sacrifices our ecological treasures which should be preserved for everyone to enjoy. Once these are ruined they may never be restored to their pristine level. If the government restores them then it comes out of taxpayer money that could have been used for other beneficial programs. If the company is held liable and has to pay, they just do what they always do and pass the cost in some form to the consumer. We could be leading the world in clean, renewable energy and other green technologies which would create new markets, new businesses, millions of jobs and a real hope and security for future generations.

  4. Why not No Tariffs? We will do that but None of the other Countries will. They have sucked and robbed America for so long they are arrogant about having to stop. Of course people in America that resale Cheap Chinese junk are pissed off.

  5. that's good why should these saleman be making more than a hard-working person doing a physical job just cas they can sale? 4k per car really for Talking bs to get someone to buy a car who's in the market for one anyway? boy y'all sure do work hard … physical labor jobs should get high wages too

  6. Haha, we are not afraid. China has some ways to deal with the situation. Although the United States forces China to buy more American-made goods each year, but we can resell the goods to other countries. As a result, the trade imbalance between China and the United States will disappear, but other countries will no longer need to buy American products, they buy these goods directly from China, so the trade imbalance between the United States and other countries will increase!
    China would buy more when Trump is still the president, but when he is no longer the president, guess what we will do?

  7. America is going back to the 50's they wanna build the Edsel and the Packard in Detroit like the good old days! I hear they wanna put Tiger Stadium back together and bring back Al Kaline and the boys!

  8. I hope there are lots of spare parts junkyards for Hyundais. There are so many of them on the road. My Hyundai was made in Alabama. I hope my dealership can get the parts that will be needed over the next few years, because I don't trade cars often.. Even though I live in a Capitalist Nation, I am very conservative; and I don't believe in getting rid of something that runs well. I'm an engineer!

  9. I do understand TRUMP'S motives, but frankly he's 40 years too late. The predecessor President's both DEM's and REP's sold the American Worker down the river a long time ago. May they ALL rot in HELL !

  10. Trump requested fair trade perhaps trump hikes everything to match. pull out military from middle east let them handle it. Use military at the border, but the main war budget spend it on renewable energy for all government buildings, buying american solar and creating jobs, while lowering utility costs for all.

    Also stop funding united nations and world trade organization…we foot the bill from 20-90% of these international programs. Let them deal with terrorism threats abroad.

  11. TRUMPOIDS NEED TO UNDERSTAND WHEN US COMPANIES START HAVING CUTBACKS AND LAYOFFS, THEY ARE NOT TO BLAME. TRUMP IS RESPONSIBLE. THE TRUMP TARIFFS WILL BE THE CAUSE OF THE LAYOFFS AND THE FACTORY CLOSINGS.

    YOU PEOPLE HAVE TO UNDERSTAND THAT HARLEY DAVIDSON IS GOING TO EXPERIENCE LAYOFFS BECAUSE OF THE EU RETALIATORY TARIFFS. WHETHER THE COMPANY MOVES PART OF THE MANUFACTURING PROCESS OVERSEAS OR NOT HAS NO BEARING ON THE FACT THAT PEOPLE WERE GOING TO BE LAID OFF BECAUSE HD WAS GOING TO LOST ITS EUROPEAN MARKET. THE 25% INCREASOE IN THE PRICE OF US BUILT BIKES MEANS THAT NOBODY IN EUROPE WAS GOING TO BUY A HARLEY AT THE INCREASED PRICE.

  12. The point this Blomberg guy is trying to sell ignores the fact that the US has a trade deficit with Mexico of $150 billion annually and a huge chunk of that comes from the fact that ALL NAFTA sourced cars enter the US with as little as a 2% import tax. They then turn around and outsell US built cars because of this large gap in what they pay to bring their vehicles into the US, which in turn is a large component of the trade deficit the US has with Mexico. Their sad story is another 'woe is me' line of BS.
    They're complaining about their bottom line and their share value on the DOW. As it happens, the US is concerned about its bottom line too. Besides, those workers they're so worried about are NOT in America. They're across the border in Mexico and Canada. Trumps task is to make sure American workers are not disadvantaged and the Trade Deficit is where the problem lies. Those hard luck stories don't wash

  13. Canada, let's reallocate all this steel into the wind industry. Let's keep our steel workers working. Each 450 foot wind turbine requires roughly a million tons of steel. We need wind farms in every region and municipality right across Canada. These wind farms and solar farms can be backed up by our hydro. This is how we get 100% renewably powered.