Monday, July 30, 2018

AUTO PRODUCING COUNTRIES PLAN STRATEGY

   Canada will join Mexico and other European and Asian auto-producing countries this week to plot strategy ahead of the potential imposition of tariffs on vehicles and auto parts exported to the United 
States.
   Japan and the European Union organized the meeting for Tuesday in Geneva, where vice and deputy ministers from Canada, the EU, Japan and South Korea will gather to talk about the punishing levies threatened by U.S. President Donald Trump.
  The Canadian Automobile Dealers Association has warned that "dollar-for-dollar" retaliatory levies would have a much more significant effect on Canada's auto sector than counter-tariffs on aluminum and steel.
  Critics warn the potential tariffs of up to 25 per cent, plus retaliatory measures, could add thousands of dollars to the price of a vehicle, kill jobs and cause significant harm to the global auto industry.

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