Renewed China tariffs on US autos would cost jobs, warns industry coalition


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Renewed China tariffs on US autos would cost jobs, warns industry coalition

On Friday, the 23rd of August 2019, raising a red flag over US auto industry, which had already been scuffling amid tumbling sales across the gloe, head of a broad coalition of German, Japanese and South Korean automakers said that the newly inclined China tariff on US autos would inflict deeper injuries on to US-made vehicle exports to China, and in effect would more likely to put hundreds of thousands of US jobs at risk.

Further inside the bid, Beijing had imported 190,118 US-made vehicles last year, down by 35 percent on a year-on-year basis, while this year’s tormenting trade outlook could point to further contraction, a Japanese auto importer, Sinomach Autos said following reveal of renewed China tariffs on Friday (August 23rd).

Meanwhile, referring to a 2017-scenario when a China tariff hike on US autos had met with a decline in US-auto exports by 50 percent, CEO of the Association of Global Automakers, a trade pact of automotive industry including Toyota Motor Corp., Nissan Motor Co.

and Hyundai Motor, John Bozzella said, “When these tariffs were initially imposed by China in 2017, American exports of finished vehicles dropped by 50 percent. We can’t let that happen to American workers again. ”