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SOUTHFIELD, MICHIGAN / WASHINGTON – BMW AG and Hyundai Motor Co. urged the US not to impose tariffs on auto imports, joining General Motors Co. in their case to the Commerce Department Donald Trump dismissed the concerns as "smoke and mirrors."
"It seems that the threat to impose these penalties is designed to achieve certain goals," the newspaper Welt am Sonntag reported, quoting a copy of BMW's Commerce Secretary Wilbur Ross. The Munich-based luxury automaker said its investment of $ 9 billion in the Spartanburg, South Carolina, BMW plant, supports more than 120,000 US jobs.
Hyundai said the duties would be "devastating" to the Seoul-based automaker and jeopardize South Korea's Hyundai would be able to make North Korea's nuclear ambitions more difficult.
White House trade advisor Peter Navarro earlier addressed Friday's stern warning by GM
"Increased import tariffs could lead to a smaller GM, a reduced presence at home and risk less – not more – US jobs, "the nation's largest automaker said in comments submitted Friday to the Commerce Department.
That such a blunt statement came fro GM – a company run by a CEO, Mary Barra, whose normal tack is to avoid the political fray and the trade groups address the president's policies – was surprising to industry observers. And it underscored how high she, and many industrial leaders, believe the stakes are the president of the U.S. GM's public pronouncement followed by Harley-Davidson Inc., Toyota Motor Corp. and Daimler AG.
"How does it matter to the impact of GM, its employees and consumers," said Michelle Krebs, analyst with AutoTrader.com. "There is a lot at stake for GM, the auto industry and the overall economy."
Navarro shot back at GM on Saturday in an interview on CNN, saying the auto company was using "smoke and mirrors" to deceive the public . He said the impact of tariffs on the price of a GM car was equivalent to "a luxury floor mat."
"Even the GM cars built here, about half the content is foreign," Navarro said, adding that US factories had become "assembly plants" stitching together components made elsewhere. In the case of BMW's massive South Carolina operation, that would be about 1,900 vehicles each day, many of which are exported.
Navarro added that Trump, having passed a tax cut that helps companies like GM and Harley, "felt betrayed" Trump's tariffs
In an interview with Maria Bartiromo that aired Sunday morning on Fox News's "Sunday Morning Futures," Trump said his political Supporters are a close mirror of Harley's customer base – and they are unhappy with any plan to expand overseas production. "Harley is an American bike" and "they should build them in this country," he said.
Trump ordered an investigation of whether auto imports pose national security risks last month under a section of the same 1960s trade law used to impose levies on steel and aluminum. (19659002) In Sunday's interview with Fox, Trump said the tariffs are needed in part because of the European Union's barriers to U.S.-built vehicles. "The European Union is possibly as bad as China, just smaller," Trump said. "They send a Mercedes in, we can not send our cars in."
Trump told reporters aboard Air Force One on Friday afternoon that he expected the Commerce Department to complete the investigation "in three or four weeks." [19659002] Under the trade statute, Ross has until February to conclude the inquiry. This article is only available in French.
The probe has raised the alarm clock. carmakers – including GM and Ford Motor Co. – import a substantial share of the vehicles they sell in the US from other countries. Levies on Ford F-150 pickup and Toyota Camry sedan by
GM fell 2.8 percent – to $ 39.40 in New York on Friday, and has now Posted on May 26th, 2009 at 1:40 pm GMT message came as a surprise from the Trump administration, James Albertine, analyst with Consumer's Edge Research, told Bloomberg TV.
"So this came as a little bit of a shock to us," he said, "as we thought they were working more along the lines of making sure the administration knew the severity of the tariffs."
Barra had Trump. Walt Disney's Bob Iger and Tesla's Elon Musk, which is going to be protesting against the backdrop of the Paris climate agreement last year. Charlottesville, Virginia.
Now, the Detroit-based maker of Chevrolet, Cadillac, Buick and GMC vehicles is warning that additional tariffs – on top of those recently slapped on steel, aluminum and Chinese products – could hurt GM and its customers. Higher prices would be needed, particularly to less-affluent consumers, and it would be necessary to make them cheaper.
"The threat of steep tariffs on vehicle and auto component imports risks undermining GM's competitiveness against foreign auto producers , "the company said.
GM's Chevrolet Silverado pickup was the top-selling imported model. from Mexico last year, while the Chevrolet Equinox crossover has been sourced from Canada, according to LMC Automotive.
Just last week, GM Chevy Blazer SUV later this year. The iconic American brand will be built at a plant in Mexico, a move that sparked angry comments from the United Auto Workers union. In his response, the UAW said that GM sells 80 percent of its Mexican-made vehicles in the US
"GM imports a lot of pickup trucks from Mexico, so it's a huge issue," Alan Baum, an auto analyst in West Bloomfield, Michigan, said. "And for parts, it's not just GM. Everyone imports a lot of electronics from Asia. Those are are high-value parts. "
General Motors says it could be forced to cut U.S. jobs if tariffs are being applied to imported vehicles and auto parts. BMW and Hyundai also told the Commerce Department that their plans for U.S. could be jeopardized.
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