- cross-posted to:
- [email protected]
- canada
- cross-posted to:
- [email protected]
- canada
cross-posted from: https://lemmy.ca/post/43069545
President Donald Trump’s administration will move to reduce the impact of his automotive tariffs on Tuesday by alleviating some duties imposed on foreign parts in domestically manufactured cars and keeping tariffs on cars made abroad from piling on top of other ones, officials said. “President Trump is building an important partnership with both the domestic automakers and our great American workers,” Commerce Secretary Howard Lutnick said in a statement from the White House.
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Lol
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If Trump had made this announcement in the morning, or the day before, this could have swung the election in favor of conservatives.
He probably thought they held their election on Tuesday, because doesn’t everyone?
I suspect the devil is in the detail here. China is only the third largest supplier of auto parts overall at ~9%, after Mexico (41%) and Canada (10%). 1 But for some particular vehicles, China is a much more significant supplier2, and for some components, particularly components of EVs China is damn near the only supplier presently 3. Also this exemption seems to be set to decay over the next three years. This all reads to me as Trump making incentives for building out production for the worse kind of car that is less likely to grow in demand, and only putting those incentives in place for 3 years when it would take, like, 10 or 15 years to build the supply chain and production… All while locking us out of the fastest growing market for cars.