Major automakers worry about Trump ‘grenade’ – auto tariffs

by SpeedLux
Donald Trump

Significant automakers are hopeful on the outlook for the U.S. economy and auto sales, but a huge concern remains – will President Donald Trump throw a “grenade” into the auto sector by imposing sweeping tariffs of up to 25 percent on auto-related imports?

The industry is in “wait-and-see mode,” however the tariffs would be a problematic, Bob Carter, head of U.S. sales at Toyota Motor, informed Reuters on Wednesday.

“If the tariff happened on the auto industry, quite frankly that’s pulling the pin out of the grenade,” he stated in a conference on Tuesday held in conjunction with the New York International Auto Show. “I don’t believe the U.S. economy can run out of the room fast enough if that occurs.”

Carter stated in an interview he was hopeful that the Trump administration would decide against tariffs, yet “uncomfortable” because of the president’s decision in 2018 to impose tariffs on steel and aluminum imports.

Trump ran for office in 2016 on a protectionist platform intended at shoring up U.S. manufacturing jobs. He stated in the past he was thinking about imposing tariffs on autos and auto parts of up to 25 percent.

In February, the U.S. Commerce Department sent recommendations to Trump, which automotive officials expect to include at least some tariffs on fully assembled automobiles or on critical technologies and components associated with electric, automated, connected and shared automobiles.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.


SpeedLux is a high-authority automotive blog providing the latest automotive news and reviews. SpeedLux covers everything related to cars, bikes, and motorcycles, from news and reviews, to troubleshooting guides, tips and tricks, and more. SpeedLux was born in 2009 and we have over 20,000 articles published on our blog. We thank all our readers, as well as our partners, without whom we could not have reached this level.


©2009 – 2024 SpeedLux – Daily Automotive News and Reviews. All Right Reserved.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More