(MENAFN- Asia Times) Several Chinese automakers, including SAIC Motor Corp and Chery Automobile, will suffer if Republican candidate Donald Trump wins the presidential election in November and goes through with a threat to impose a 100% tariff on Chinese cars that are made in Mexico.
Trump vowed on Saturday, while delivering a campaign speech in Dayton, Ohio, to discourage the import of Chinese autos from Mexico.
“Those big monster car manufacturing plants you are building in Mexico right now and you think you are going to get that - not hire Americans and you're going to sell the car to us, no,” Trump said.“We are going to put a 100% tariff on every car that comes across the lot.”
In early March, Trump said he would impose a 50% tariff on Chinese autos if he wins the presidential election. He also proposed tariffs of as much as 60% on all Chinese goods and 10% on goods made in the rest of the world.
The Trump administration in May 2019 had imposed an extra 25% tariff on Chinese goods on top of the usual 2.5% tariff. US President Joe Biden maintained the policy after he took office in January 2021.
When giving a speech in South Carolina on February 23, Trump mentioned his plan of starting a new trade war against China.
MENAFN18032024000159011032ID1107992439
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.