The Wall Street Journal is today reporting that car makers are warning the Trump administration of a ‘domino effect’ that would harm U.S. workers and the economy.
"Auto makers, parts suppliers and dealers are joining forces to push back against the Trump administration’s proposal to apply tariffs of up to 25% on vehicles and components imported into the U.S., contending the administration’s trade policy will backfire and lead to higher prices and lost jobs."
"Toyota Motor Corp. said it opposes the tariffs, because even though it builds cars in the U.S., it uses foreign-sourced parts that would be subject to the levy. For instance, about 30% of the parts used in a U.S.-built Toyota Camry come from outside the country. A tariff on those parts would increase the price of a Camry by $1,800, the company said."
"The United Auto Workers union—which represents workers at General Motors Co. , Ford Motor Co. and Fiat Chrysler Automobiles NV—has expressed support for the administration’s investigation, calling it “long overdue.” The union stopped short of endorsing the tariffs and instead urged a more “targeted” approach, such as taking measures to stop the influx of auto investment in Mexico in recent years."Note: This has been classified as a "Fund Discussion" because
@Ted has decreed that this is allowable as long as a topic involves industries whose securities are held by Mutual Funds. And as we all know, Ted sets the rules.
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https://marketplace.org/2017/08/24/sustainability/trade-stories-globalization-and-backlash/what-was-one-worst-pieces-us-legislation