Posted Thursday, July 26, 2018 at 12:23am
Will he or won’t he? As President Trump toys with his controversial plan to impose 25% tariffs on car imports into the U.S., carmakers from Tokyo to Stuttgart await the outcome with baited breath.
These automakers have need to worry. A precedent has been set. Trump has already imposed tariffs of 25% on $34 billion worth of imports from China and Beijing retaliated in kind with $34 billion in tariffs on American goods including soybeans. If this trade war expands to include automobiles from Japan and Germany among others, then carmakers will have to make some very tough decisions.
