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Speaker Ryan Warns Trump About Trade War Consequences

Republicans fear a trade war will wipe out majorities in midterm elections.

by on Mar.06, 2018

Republicans in the House, led by Paul Ryan, are attempting to dissuade President Donald Trump from implementing new tariffs.

The war of words over trade if not the trade war itself continues unabated this week with warnings from President Donald Trump’s Republican allies in Congress about the potential for adverse economic fallout from the sudden imposition of tariffs and taxes by the U.S.

House Speaker Paul Ryan (R-Wisconsin) told journalists he was “extremely worried” about sowing discord with Mexico and Canada and the consequences of a trade war.

Automotive Insight!

Canadian Prime Minister Justin Trudeau wasted no times no time in attacking Trump’s tariff proposal and Mexican officials have abruptly given up on efforts to re-negotiate the North American Free Trade Agreement, which is critical to companies tied to the North American Auto Industry. (more…)

Trump Threatens to Tax Euro-Made Vehicles Again

President tweets 25% tariff threat.

by on Mar.05, 2018

President Donald Trump threatened to place a 25% tariff on European-made vehicles coming into the U.S. last weekend.

President Donald Trump dusted off a threat from early in his administration over the weekend by tweeting he would impose a 25% tax or tariff on new vehicles imported into the United States.

The tweet about taxing European cars was apparently in response to remarks from a European Union policy maker, suggesting that if the Trump administration imposes tariffs on steel and aluminum imports the EU could slap tariffs on iconic American products such Harley Davidson motorcycles, bourbon and blue jeans.

News Now!

Trump raised the possibility of slapping a tax on European cars during one of the early skirmishes around trade rules soon after moving into the White House in January 2017. One of his earliest proposals, a so-called “border adjustment tax” was buried after heavy lobbying by members of Congress, automakers and car dealers. (more…)