Huaxiao Metal Corporation Limited.

Trump's Import Tariffs On Iron And Steel Will Be Counterproductive

According to foreign media reports, all major auto trade organizations in the United States have said that the Trump administration's import of steel and aluminum tariffs from the EU, Canada and Mexico will not only make cars more expensive and threaten employment, but also delay the application of new technologies for safety and energy conservation.

Gloria Bergquist, a spokesman for the carmaker alliance, said: "these tariffs will lead to a rise in domestic steel prices, threatening the global competitiveness of the industry and increasing the cost of buying cars for users. Allowing vehicles to maintain civilian prices means increasing sales, creating more jobs in the car industry, speeding up fleet turnover, and improving fuel economy and safety. GM, TOYOTA and Volkswagen are all members of the carmaker alliance.

International auto makers, such as Korea's Hyundai and Japanese Honda, say that President Trump's decision to impose import tariffs on steel, is disappointing and will go against it.

"Tariffs are also a tax, which will increase vehicle prices and damage the interests of American auto makers and consumers. Any return of our trading partners will exacerbate the damage." John Bozzella, the global auto maker president, said in an email statement.

Although automakers buy most of the steel and aluminum from domestic suppliers, the alliance says that whether the metal is made in the United States or imports, the rise in tariffs will raise metal prices. GM and Ford both said the increase in raw material costs would reduce the company's profits this year.

The May 31st tariff announcement marked a strong trade attack on the Trump administration's closest allies in the United States, which had been trying to seek permanent tariff immunity.
Related News
  • China Stainless Steel Daily

    China Stainless Steel Daily

    March 28, 2018201 Cold Rolled: Stainless steel mills continue to maintain the price of yesterday. The mainstream market price in USD1280-1300/MT, Yesterday afternoon some mills pulled up slightly, but affected by t...view
  • Rose Gold Stainless Steel Plate

    Rose Gold Stainless Steel Plate

    August 24, 2018The surface corrosion resistance and wear resistance of the rose gold stainless steel plate are stronger than that of the ordinary stainless steel. It can resist the salt fog corrosion for more than 1...view
  • What is Stainless Steel Deep Drawing

    What is Stainless Steel Deep Drawing

    August 16, 2018It is suitable for stretching relatively large containers and the like. Such material 304 contains 8.5% of nickel (DQ grade), 9% (DDQ grade) Ordinary 304 material is 8% or more German DIN standard.DDQ...view
  • Rose Gold Stainless Steel Overview

    Rose Gold Stainless Steel Overview

    January 25, 2019Rose gold plate, also known as rose gold stainless steel plate, or colored stainless steel rose gold plate, it is a new material. The manufacturing process is not simply a layer of colorant on the sur...view
  • US Media Say China Is More And More Picky About Iron Ore

    US Media Say China Is More And More Picky About Iron Ore

    June 12, 2018In June 10th, U. S. media reported that mining companies faced a new challenge as they recovered from the downturn: China, who bought 2/3 of the world's iron ore, was increasingly picky about the type...view
  • 316 Stainless Steel Coil

    316 Stainless Steel Coil

    August 16, 2018Corrosion resistanceIts corrosion resistance is superior to that of 304 stainless steel and it has good corrosion resistance in the production of pulp and paper. And 316 stainless steel is also resist...view
  • TEL:+86-21-54725826
  • FAX:+86-21-54717930
  • ADDRESS:Room 458, Building 8-9, NO.1500 South Lianhua Road, Shanghai, China.