Detroit Bureau on Twitter

Archive for the ‘Trade’ Category

Toyota Teaming Up With Paccar to Build a Test Fleet of Clean Hydrogen Semis

Project will focus on heavily polluted Port of Los Angeles.

by on Jan.09, 2019

Toyota is teaming up with Paccar to develop a next-generation fuel-cell powered semi-truck to be used at the ports of Los Angeles and Long Beach.

Toyota is teaming up with Paccar, one of the world’s largest producers of heavy-duty trucks, to build 10 hydrogen-powered Class 8 prototypes.

The rigs will go into operation at the twin ports of Los Angeles and Long Beach, California, where the thousands of diesel trucks currently in use catch blame for a disproportionate share of the region’s air pollution. The project comes as environmental regulators are putting into place plans to completely eliminate conventional diesel trucks at the two ports by 2035.

CES News!

“This is not just a science experiment,” said Bob Carter, executive vice president, Toyota Motor North America. “The goal is to make a difference in society, to remove pollution and improve the air quality in and around the Port of Los Angeles.” (more…)

Tesla Breaks Ground on New Shanghai Gigafactory

Musk expects plant to be completed by midyear.

by on Jan.07, 2019

Tesla's Elon Musk said he expects the new Shanghai plant to be complete during the second quarter.

Tesla chief Elon Musk extended his vision of a world dominated by electric vehicles by traveling to Shanghai, China, to break ground for the company’s newest plant, Gigafactory 3.

Always the optimist, Musk said he expects construction on the massive 210-acre facility to be complete by the middle of this year with finished products rolling off the assembly line and out the doors by the end of this year.

Global News!

“With the resources here, I think we can build the Shanghai Gigafactory in a record time,” Musk said during the rain-soaked ceremony. (more…)

Russian Automaker GAZ Pushes for U.S. to Lift Sanctions

Treasury Department moving to accelerate process.

by on Dec.27, 2018

Russian automaker GAZ is looking to get the U.S. to lift sanctions off the company so it can do business here.

The Russian and U.S. governments are discussing lifting the U.S. sanctions on a Russian automaker, GAZ, which is part of a holding company in which a prominent Russian oligarch, Oleg Deripaska, has a key stake.

The talks aimed at lifting U.S. sanctions on Russian automaker GAZ are ongoing with the U.S. Treasury Department, and the company is implementing internal measures to encourage the process, Russian Finance Minister Anton Siluanov said, according to Reuters.

Global News!

The U.S. Treasury extended a deadline for investors to divest from GAZ to March 7, a day after it announced it would lift sanctions on the core assets of Deripaska’s empire — Rusal, the world’s second largest aluminum company, and its parent En+ of which GAZ is also a part. (more…)

China Suspends Punitive Tariffs on US During Negotiations

Tariff halt is for three months.

by on Dec.14, 2018

Chinese fans of American cars can rejoice – if only for three months – as the extra 25% tariff on autos has been suspended.

Shortly after the U.S. and China declared a truce, China put forth a goodwill gesture, announcing it will temporarily suspend additional 25% tariff on U.S.-made vehicles and auto parts starting Jan. 1, 2019.

The 25% tariff came oddly enough just after China reduced the levy to 15% earlier this year, but when President Donald Trump decided to increase tariffs on China, the country immediately pushed it back up to 40%.

Global News!

The Ministry of Finance, in a statement on its website, the two sides can expedite talks to remove all additional tariffs on each other’s goods. For now, the suspension will last for three months. The impact in some places was immediate. (more…)

White House Tells Automakers China Tariffs Coming Down

Automotive levies coming down to 15%.

by on Dec.11, 2018

U.S. Trade Representative Robert Lighthizer appears to be making progress in talks with the Chinese.

After the first few days of talks, White House officials once again believe China is ready to cut tariffs on U.S. cars, trucks and utility vehicles from 40% to 15%.

Trump administration officials told automakers following a U.S.-China trade call they believe China will cut tariffs on U.S. autos to 15% from the current 40%, an auto executive told Reuters after being briefed on the call.

News You Can Trust!

Before excitement begins to bubble, this has been heard before. President Donald Trump tweeted a few weeks ago that China was cutting the levies, only to have to backtrack on those assertions. Additinally, there is no actual documentation to support the idea. (more…)

European Auto Execs Meet with Trump, Aim to Head Off Expanded Trade War

VW signals a second U.S. plant is in the works.

by on Dec.05, 2018

President Donald Trump met with the leaders of BMW, Daimler and Volkswagen.

Even as President Donald Trump was backpeddling on earlier comments suggesting the trade dispute with China had been defused, the former New York businessman was meeting with European auto industry executives worried that they could become targeted by yet another front in the trade war.

The president has signaled he may enact duties of 25% or more on vehicles imported from Europe, even though his own Commerce Dept. has backed away from plans to declare imported automobiles a threat to national security.

Global News!

Trump “shared his vision of all automakers producing in the United States and creating a more friendly business environment,” the White House said in a statement that followed the meeting with officials from BMW, Daimler and Volkswagen. (more…)

Trump, White House Backtrack on Claims of China Car Tariff Deal

“White House officials are contorting themselves into pretzels” to not say the president lied.

by on Dec.04, 2018

President Trump is revealing that China's plan to cut tariffs wasn't actually plan, but a starting point for negotiations.

Just days after President Donald Trump emerged from a 2-1/2 hour dinner with China’s Xi Jinping claiming to have an “incredible” trade deal that would, among other things, roll back automotive tariffs, it appears that little to nothing concrete was resolved between the two leaders.

That leaves the auto industry in limbo as manufacturers on both sides of the Pacific try to figure out precisely what to do now, especially when it comes to bilateral automotive exports. Several manufacturers, notably including BMW and Volvo, have been hinting that if the trade war continues they may have to transfer some of their U.S.-based production to plants in China.

News Now!

Following the meeting with Xi at the end of the G-20 conference in Argentina last Sunday, Trump tweeted, “China has agreed to reduce and remove tariffs on cars coming into China from the U.S. Currently the tariff is 40%.” But he and others in the White House have been forced to backtrack, Trump’s National Economic Council advisor Larry Kudlow telling Fox News a deal “hasn’t been signed and sealed and delivered yet.” (more…)

Trump Claims China Will Cut Tariffs on U.S.-Made Cars

A possible truce in trade war?

by on Dec.03, 2018

Chinese President Xi Jinping is temporarily reducing the tariff on U.S.-built vehicles coming into China.

Following a 2-1/2 hour meeting with China’s Xi Jinping, President Donald Trump said the two had agreed to a truce in the U.S.-Chinese trade war, the Asian leader agreeing to drop tariffs on American-made vehicles.

That would be part of a 90-day cease-fire that could lead to a rollback of broader tariffs that have been implemented in recent months, and a halt to the $200 billion in additional duties Trump had threatened to place on Chinese-made goods at the beginning of the new year.

Trade News!

“China has agreed to reduce and remove tariffs on cars coming into China from the U.S. Currently the tariff is 40%,” Trump announced in a Sunday night tweet. But it was unclear if his social media comments were completely accurate given his history of misstatements and the fact that the official White House news feed differed with the president on some key elements of the trade talks with China during the weekend. (more…)

Trump Threatens to Kill NAFTA — Again

Move design to pressure Congress to approve new deal.

by on Dec.03, 2018

President Donald Trump said he might cancel NAFTA immediately, hoping to pressure Congress into approving its replacement deal.

Only a day after signing a new trade agreement with Mexico and Canada, President Donald Trump said he is now free to cancel NAFTA in a move that will create major problems for global automakers.

Trump, who is facing mounting political challenges at home, made his remarks to reporters as he prepared to return to the U.S. after the G-20 Summit in Bueno Ares. The remarks came after he had formally signed a new version of NAFTA with leaders from Mexico and Canada.

Trade News!

Trump’s goal in announcing the end of NAFTA is to put pressure on Congress to accept the new agreement with Mexico and Canada.  (more…)

Toyota, PSA Extend Partnership in European Market

PSA selling more commercial vehicles to Toyota.

by on Dec.03, 2018

Toyota will take full ownership of the plant in the Czech Republic it shares with PSA in 2021.

Toyota Motor Corp. and PSA, the Paris-based automaker that operates Peugeot, Citroen and Opel, have made a deal to expand their long-term partnership in the European market.

Under the terms of the new agreement, PSA will expand the range of commercial vehicles that it supplies to Toyota for sale in Europe under the Toyota brand starting in fourth quarter of 2019.

Global News!

In return, Toyota will take full financial ownership, starting in 2021, of the Toyota Peugeot Citroën Automobile Czech joint-venture plant in Czech Republic, which produces the compact A-segment models, which Toyota will continue to build. (more…)