Manufacturers oppose automotive tariffs at Washington hearings
Representatives from the world’s biggest automakers and its suppliers gathered in Washington last Thursday to deliver their remarks at a hearing before the U.S. Commerce Department, who is considering to impose tariffs of up to 25% on imported cars and auto parts.
The hearings are a required step in the regulatory process described in the Section 232 of the Trade Expansion Act, a law originally intended to protect U.S. capability to produce munitions.
Not only manufacturers were among those opposing the trade barriers. A bipartisan group of 150 lawmakers signed a letter urging the administration to drop the plans as bills changing the Trade Expansion Act to require Congressional approval are pending in both houses.
Commerce Secretary Wilbur Ross said at the hearing it was “too early” to say if the Trump administration would impose the tariffs, while an assistant pledged the agency will “conduct a thorough, fair and transparent investigation,” considering the economic arguments made by automakers and others at the hearing before making a final decision.
A complete video stream of the hearing can be seen here.
– GM warns tariffs would lead to less US jobs, investments
– Global automakers push back against tariffs plan by the Trump administration
– Forecast: US tariffs on imported vehicles would cost automakers 1 million annual sales