Trump efforts to split EU "in vain" — European Commission Chief

Marco Green
July 19, 2018

The Alliance of Automobile Manufacturers, whose members include General Motors Co, Volkswagen AG and Toyota Motor Corp, warned on the impact of the tariffs.

They are also facing higher prices after tariffs were imposed on aluminum and steel.

Rep. Terri Sewell, D-Ala., flanked by John Bozzella, president of Global Automakers, left, and Sen.

The department opened an investigation in May into whether imported autos and parts pose a national security risk and was holding a hearing on the probe on Thursday, taking testimony from auto trade groups, foreign governments and others.

A study by the Center for Automotive Research also released Thursday estimated auto demand will fall by between 493,600 and two million vehicles, resulting in the loss of 82,000 to almost 750,000 auto manufacturing jobs.

"This would equate to an $83 billion tax on US consumers that would trigger a domino effect on the industry and economy".

"Higher auto tariffs will harm American families and workers, along with the economy" and "would raise the price of an imported vehicle almost $6,000 and the price of a USA -built vehicle $2,000", said Jennifer Thomas, a vice president for the group. When vehicle prices rise, demand drops.

Juncker is due to meet Trump on July 25 and has said he will explain that the European Commission coordinates trade policy for the 28-nation bloc.

Trump said in a recent CBS interview, "I think the European Union is a foe, what they do to us in trade".

All but one of the 45 scheduled witnesses expected to testify Thursday at a daylong Commerce Department hearing will oppose President Donald Trump's auto tariffs plan, Politico reports.

Trump made the statement one day after he appeared to side with Russian President Vladimir Putin's denials of Russian election interference in the 2016 election, a contradiction to us intelligence findings. Following a diplomatic summit in Helsinki, Trump faced harsh criticism after a press conference with Putin where he would not say whether he believed Russian Federation meddled with the 2016 presidential election. Some administration officials have suggested that his threats are a tactic to win concessions in trade talks, including North American Free Trade Agreement renegotiations.

Other reports by Click Lancashire

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