NEW YORK: Major automakers are bullish on the outlook for the U.S. economy and auto sales, but one big question remains: will President Donald Trump throw a grenade into the sector by imposing sweeping tariffs of up to 25 percent on car and auto parts imports?
Trump ran for office in 2016 on a protectionist platform aimed at shoring up U.S. manufacturing jobs. He has said in the past he was considering tariffs on autos and auto parts of up to 25 percent. However, tariffs could reduce sales by another 2 million vehicles and shave half to two-thirds of a percentage point off U.S. gross domestic product, he said.
Source: Financial Digest (financialdigest.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
In major shift, Trump to allow lawsuits against foreign firms in CubaThe Trump administration will allow lawsuits in U.S. courts for the first time against foreign companies that use properties Communist-ruled Cuba ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Netanyahu win gives US peace plan ‘better chance:’ TrumpPresident Donald Trump said Wednesday that Israeli Prime Minister Benjamin Netanyahu’s election victory improved the chances of a forthcoming US peace plan, despite deep skepticism from the Palestinians.
Source: IndependentSG - 🏆 2. / 72 Read more »
US House panel chairman gives IRS April 23 deadline on Trump taxesU.S. congressional Democrats on Saturday headed for a showdown with the Internal Revenue Service over President Donald Trump's tax returns, ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Ivanka Trump lands in Africa to promote US jobs plan for womenADDIS ABABA: Ivanka Trump began a four-day tour of Africa on Sunday (Apr 14) to promote a US$50 million United States initiative aimed at ... Does anyone else see the irony of the statement “Ivanka Trump lands in Africa to promote US jobs plan for women?”
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Mexican, US business leaders unite to rebuke 'disastrous' Trump border closure threatsMexican and U.S. business leaders on Friday pushed back against President Donald Trump's threats to close the U.S.-Mexico border and urged him to ... Wilbur Ross is there. Makes no sense.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
US House panels issue subpoenas to Deutsche Bank, others, in Trump probeTwo U.S. House of Representatives committees have issued subpoenas to multiple financial institutions, including Deutsche Bank AG, for information ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Trump vetoes bill to end US support for Saudi-led Yemen warPresident Donald Trump on Tuesday vetoed a resolution from Congress directing him to end US support for the Saudi-led war in Yemen, the second ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Trump vetoes measure barring US role in Saudi-led Yemen war[BUENOS AIRES] President Donald Trump vetoed on Tuesday a measure passed by Congress earlier this month demanding that he withdraw US support for the Saudi-led war in Yemen, the White House said in a statement. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Trump says he is discussing potential further meetings with North Korea's KimWASHINGTON: US President Donald Trump said he and South Korean President Moon Jae-in will discuss North Korea during their White House meeting on ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Golf: Trump, Obama congratulate Woods after Masters victoryAUGUSTA: US President Donald Trump and former president Barack Obama were among those joining a chorus of congratulations on Sunday (Apr 14) to ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »