According to foreign media reports, U.S. President Trump formally signed an order at the White House on March 8, which will impose tariffs of 25% and 10% on steel and aluminum imported from the United States 15 days later. However, in the specific expropriation program, the extension of temporary immunity for Canada and Mexico depends on the negotiation of the North American Free Trade Agreement.
Since taking office in January last year, Trump has overturned a series of trade and environmental protection policies of former President Barack Obama, which has had a major impact on the development of the US automobile industry and even the global automotive industry. On the one hand, in January last year Trump met with top three auto giants and urged them to produce cars in the United States. He warned that if companies move production out of the country, they will face a high border tax. "I hope the cars sold in the U.S. market will all be built in new U.S. factories." On the other hand, he actively promotes the U.S. priority policy. , Encourage foreign car companies to invest in US plants to create more jobs. It is true that the three largest car companies in the United States have successively established new production plants in the United States. Nissan, Toyota and other foreign auto companies have also settled in the United States. However, in 2017, US car sales have experienced a decline, which is the first decline since 2009. According to the United States, According to the latest report from Auto News, light vehicle sales in the US fell by 2.3% in February compared to the same period last year. From January to February, cumulative sales decreased by 0.7% year-on-year.
Costs increase sales difficulty
Prior to Trump’s vocalization, U.S. trading groups, including GM, Toyota, Bosch, and other automakers and parts companies, reminded the Trump administration of the possible consequences of tariff increases. Sure enough, March 2, As soon as Trump has made a speech, the stock prices of Toyota, General Motors and other companies have dropped, which is undoubtedly aggravated by the US car companies whose sales have been weakened in February. Cody Rusco, chairman of the US International Automobile Dealers Organization, said that it is not time for the policy to increase tariffs. In recent months, the United States’ car sales performance has not been very satisfactory. In the face of the ever-increasing cost, the car Manufacturers are miserable.†Since the arrival of the White House, Trump has pursued a two-pronged approach of “carrots and sticks†to urge car makers to build factories in the United States. The current results have been remarkable: General Motors, FCA, Toyota, Mazda, etc. Have new production capacity in the United States. Previously, Toyota Motor intends to jointly invest $1.6 billion in Mazda to establish a new factory in Alabama. Although more than 90% of Toyota's steel raw materials come from the United States, this tariff policy will still greatly increase the manufacturing costs of auto companies. , raising the price of cars sold in the United States.
Compared with Toyota's tension, Ford, General Motors and other car companies are calm. Ford Motor spokesman Kristin Baker said that 95% of Ford's steel and 98% of aluminum products come from the United States, and the proportion of imported materials is very small, so the impact is not great, General Motors Global Products President Mark Lu Sri Lanka said that 90% of GM's raw materials come from the United States. "But in order to cope with changes in trade policy, we must make appropriate preparations in terms of raw material procurement and product development." There is no need to worry about the competition of imported products. , U.S. steelmakers may increase product prices, forcing automakers to increase the price of new cars. The United States International Automobile Dealers Association expressed concern that the increase in tariffs will eventually lead to a substantial increase in car prices. Enemy too many exports difficult
On the one hand, there is rising capacity, and on the other hand, it is a decline in sales. How the United States will digest these production capacity is a big problem in the future. If the excess production capacity cannot be digested domestically, it needs to be exported to foreign countries. Compared with other countries, the United States can There is no export advantage. First, compared with China and other automobile production regions, the United States has higher productivity costs and spare parts supply costs, and the price advantage is not obvious. Second, after Trump took office, he has adopted a hegemonic "U.S. priority" policy and successively with Germany, Japan, South Korea and other countries have turned their backs and frequently "retreat from the crowd". They have no support for favorable trade policies. It is not easy to want to export smoothly. Thirdly, in July this year, Japan and the EU reached a preliminary framework agreement after four years of negotiations on the "Economic Partnership Agreement" (EPA). After the entry into force of the Japan-Europe EPA, it will break trade barriers between the two parties and increase US companies in Europe and Japan. Market competition pressure, especially in the automotive industry. In the future, the EU will gradually reduce tariffs on imported cars from Japan. The situation of U.S. car makers in Europe will be even more difficult. At the same time, Japan also agrees to import EU standards. In this way, European car manufacturers such as Volkswagen and BMW will be able to Japan sells more cars. However, American cars face 10% of the EU's tariffs, and will be even more struggling in the fierce Japanese market.
Now Trump has announced that the United States plans to impose tariffs of 25% and 10% on imports of steel and aluminum for a long period of time. This will undoubtedly worsen the US auto industry. Judging from the current situation, once the trade war starts, the American automobile market in 2018 will be full of unknown numbers.
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