24.6 C
New York
Saturday, July 2, 2022

Big Losers If Trump Imposes Auto Tariffs

Big Losers If Trump Imposes Auto Tariffs

Investing.com – President Trump’s next trade salvo may be higher tariffs on imports of autos and auto parts, a move that will hurt trading partners near and far.
The President is reportedly considering an increase in tariffs from 2.5% to a maximum of 25%, which would apply to all kinds of vehicles.
Here’s five things to know about auto imports.
The biggest suppliers of U.S. auto imports are Canada and Mexico. Together they sell about $89 billion dollars in vehicles a year.
Japan is next. Some $40 billion worth of cars were shipped to the U.S. in 2017.
Germany’s imports are worth about $20 billion a year.
Both Japanese and German automakers have major U.S.-based manufacturing operations, which are not included, and would not be affected.
In terms of individual companies, Toyota has the most at stake. It shipped 724,000 vehicles to the U.S. in 2017; 30% of its cars sold in the U.S. are imports.
Volkswagen (DE:) also has a lot to lose. It imported 281,000 cars last year. Almost half of the cars it sells in the U.S. come from abroad.
U.S. automakers would also be affected by the tariffs because they have manufacturing operations outside the country.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source: Investing.com

Related Articles

Stay Connected

- Advertisement -

Latest Articles

Popular Articles