25% Auto Imports Tariffs
In late May, President Trump directed the Commerce Department to investigate whether imported vehicles represent a threat to national security. On Friday, May 17th he is expected to sign an executive order determining that auto and auto parts imports are a threat to national security, according to a Bloomberg news report. However, these tariffs will be delayed by 180 days to allow for negotiations with the EU and Japan to “limit or restrict” auto and parts exports into the US. The apparent justification for the national security threat designation is that these imports inhibit domestic producers’ ability to invest in new technologies. This is just not the case.
The Trade Partnership released a study showing that a 25% tariff on imported vehicles and parts would add about $6,400 to the price of an imported $30,000 car and would result in a net loss of 157,000 U.S. jobs. The National Taxpayers Union Foundation has done a separate study that finds Trump’s car tax would boost average new car and truck prices by $1,262 to $5,809.
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Click here to tell the White House and Congress that car tariffs are taxes on the American people and that you are opposed to the car tax!