Trump Auto Tariff Blowback Likely to Hit Ag

May 25, 2018 11:52 AM
 
Lawmakers are concerned President Trump’s proposed tariffs on foreign cars under Section 232 could instigate retaliatory trade actions aimed at farmers.

Lawmakers are concerned President Trump’s proposed tariffs on foreign cars under Section 232 could instigate retaliatory trade actions aimed at farmers.

According to Pro Farmer’s policy analyst Jim Wiesemeyer, Senate Maority Leader Mitch McConnell (R-Ky.) told Fox News he is “particularly worried” about the possible negative impact on agriculture that could come from accusing our trading partners of being a threat to national security.

On Thursday Senate Finance Chairman Orrin Hatch (R-Utah) said the Commerce Department's national security review of imported automobiles was “deeply misguided” and that he shared McConnell’s concerns.

“Any time you start raising taxes and tariffs, I’m not very happy about it,” he said.

Wiesemeyer says Trump's national security review of auto imports is designed to pressure allies Canada, the European Union, Japan, Mexico and South Korea to make trade concessions. This comes as negotiators are still not through discussing difficult issues in NAFT like autos.

The regional automotive sector is one of the “great NAFTA success stories” Mexico’s chief NAFTA negotiator Kenneth Smith Ramos wrote on Twitter. He noted the intertwined U.S. and Mexico supply chain — the two countries are each other’s No. 1 auto parts supplier. The U.S. auto industry’s GDP and exports have grown significantly in recent years, while Mexico has also become the fourth-largest auto exporter in the world, he says.

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Comments

 
Spell Check

Vince
Reinbeck, IA
5/28/2018 06:42 AM
 

  Rick, Her facts came straight from Pro Farmer’s policy analyst Jim Wiesemeyer and Senate Majority Leader Mitch McConnell, are you calling Those guys 'fake news' too. Facts are facts, they said it.

 
 
Ed
Lincoln, NE
5/28/2018 01:25 PM
 

  I always thought trade was making an offer and second party counters with another offer or accepting or declining first offer. Lincoln car dealers lots are overflowing with vehicles and just make a reasonable offer they often times will accept just to pay their bills and notes to their bank. But a new vehicle has a lease plan of a payment with reasonable monthly payments. HARD TO PASS UP THOSE PLANS? Something is really strange with the financial world with credit ratings and scores when many have no money and no credit established. As a farmer to establish my worthiness to borrow and repay a note took many years started with dad co-signing my first bank note while I was in high school. OH HOW TIMES HAVE CHANGED?

 
 
Rick
Jonesboro, AR
5/25/2018 03:43 PM
 

  Of course it is! According to this moronic writer everything Trump does hurts ag. But lo and behold, ag hasn't been hurt by anything he has done. More FAKE NEWS by Laca and her lefty ilk.

 
 
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