Trump’s proposed tariffs are opposed by virtually every trade group associated with manufacturing.
The National Auto Dealers Association, usually on the Republican right wing side of issues, says that “even after taking into account the mitigating effects of the new United States Mexico Canada Agreement (USMCA, which is not passed), tariffs on autos and auto parts under Section 232 of the Trade Expansion Act of 1962 would still be extremely detrimental to consumers and the U.S. economy, and cause significant vehicle prices increases and job losses.”
It appears that NADA is starting to understand research by the respected Center for Automotive Research – oft cited by AutoInformed – that across-the-board tariffs on autos and auto parts would lead to large increases in the prices of all new vehicles sold in the U.S. – along with significant decreases in both annual new-car sales and auto industry jobs. Continue reading
Japanese-brand Automakers Generate 1.52 Million Jobs in US
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A new employment study prepared for the Japan Automobile Manufacturers Association’s U.S. office (JAMA USA) by Rutgers University Economics Professor Thomas J. Prusa, PhD, shows Japanese-brand automakers generate 1.52 million jobs throughout the U.S.
It doesn’t estimate how many jobs are lost to oversees manufacturing and imports. Thus, are the loud one-sided volleys in the ongoing automotive trade wars. Continue reading →