The announcement came in response to the Trump Administration’s decision to impose tariffs on USTR’s Section 301 List 4 products, the Auto Care Association says.
“While the Auto Care Association supports the Trump administration’s efforts to address China’s unfair trade practices and is encouraged by recent progress made through trade talks, we oppose the use of tariffs as a negotiating strategy,” Auto Care Association President and CEO Bill Hanvey wrote.
Forty-one percent of current car shoppers polled said that tariffs on new vehicles would cause them to buy a used vehicle. This was the most common response by a wide margin, Autolist found.
A new analysis by the Peterson Institute for International Economics concluded that if Trump did carry out the duties, there could be a loss of 195,000 U.S. auto industry jobs in a one- to three-year period.
MEMA Responds To Trump Administration Announcement Of Steel And Aluminum Tariffs On Canada, The European Union And Mexico
Many specialty steel and aluminum materials imported by motor vehicle suppliers are used by hundreds of vehicle parts manufacturers operating in an integrated, complex global supply chain.