The US President, Donald Trump, will announce new customs duties on automobile imports. While the White House argues that this step will promote domestic production, it is noted that it could create financial pressure for car manufacturers dependent on the global supply chain. Trump aims to attract production to the US by imposing taxes on foreign cars and spare parts. However, since both American and foreign car manufacturers continue to source parts from countries like Canada and Mexico, there is a possibility of price increases and declining sales. Previously, Trump had imposed a 20% additional tax on products imported from China and a 25% tax on imports from Mexico and Canada. However, due to objections from the automotive industry, a 30-day deferment was granted for tariffs on car imports from Canada and Mexico. This period is expected to expire in April. The White House argues that the additional tariffs are not only a trade policy but also a measure against illegal immigration and drug trafficking. However, there are concerns that these steps could trigger global trade wars and harm the economy. Last month, Trump announced a 25% customs duty on automobile, pharmaceutical, and semiconductor imports starting from April 2nd. Additionally, on the same day, he signed an executive order aiming to implement comprehensive reciprocal tariffs, expected to take effect shortly. However, shortly after, on March 3rd, he granted a one-month exemption for automobile tariffs under the United States-Mexico-Canada Agreement (USMCA).
Comments are closed