• Car Dealer Plus
No Result
View All Result
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • Used Car Awards
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100
  • CD Plus
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • Used Car Awards
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100
  • CD Plus
No Result
View All Result

Trump’s metal tariff threat concerns car bosses

Jack Evans by Jack Evans
March 7, 2018
0
Home News

CAR bosses are ‘surprised and confused’ by President Trump’s announcement that he is planning to impose tariffs on metal imported to America.

The tariffs, which could be set at 25 per cent for steel and 10 per cent for aluminium, have the potential to drastically affect how European car manufacturers trade with the US.

Jaguar Land Rover’s UK managing director Jeremy Hicks said the President’s statement took the luxury car manufacturer by surprise.

America is one of Jaguar Land Rover’s biggest export markets and a tariff could cause significant issues for the brand.

‘We’ll have to wait and see,’ said Hicks. ‘It’s interesting. Like everyone else, we don’t know. Clearly America is a really important market for us, as it is for everyone else.

‘It took us by surprise, it took everyone else by surprise and now we’ll have to wait and see.’

Andy Barratt, UK chairman and managing director of Ford of Britain, described the president’s statement as a ‘Trumpism’.

‘Any uncertainty makes it difficult to plan,’ said Barratt. ‘You don’t invest on a short-term basis, you always invest for the long term, and there’ll be a whole host of investment positions that we’ve made that we’ll follow through. Any uncertainty is always a challenge to any business.’

President Trump said America’s economy had the potential to prosper if the applied tariffs triggered an international trade war.

Speaking via Twitter on Friday, he said: ‘When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win.

‘Example, when we are down $100 billion with a certain country and they get cute, don’t trade any more – we win big. It’s easy!’

 

When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win. Example, when we are down $100 billion with a certain country and they get cute, don’t trade anymore-we win big. It’s easy!

— Donald J. Trump (@realDonaldTrump) March 2, 2018

 

However, the statement was dismissed as ‘nonsense’ by Phil Webb, head of cars at Honda UK.

‘If there were some legislation in Congress then we could talk about it, but we can’t comment on it,’ he said. ‘We’ve got enough on our plate with Brexit.’

It would appear the tariffs could potentially cause more problems for foreign car makers operating within America using imported steel, rather than those exporting vehicles to the States.

Toyota North America issued a statement which said: ‘The Administration’s decision to impose substantial steel and aluminium tariffs will adversely impact automakers, the automotive supplier community and consumers as this would substantially raise costs and therefore prices of cars and trucks sold in America.’

MORE: Current Beetle ‘won’t replaced’ as work set to progress on I.D. Buzz

MORE: Lookers upbeat despite profits fall in ‘difficult’ 2017

MORE: Aston Martin unveils all-electric Lagonda Vision Concept at Geneva Motor Show

On WorkshopMagazine.co.uk: Brake pads could spell luxury city mini-breaks

Related Posts

Supercar graphic
News

Moving on up: Here are the top 10 used supercars to buy if you want to see a return on your investment

February 26, 2021
Subaru sign via Newspress
News

Subaru adds three dealers to network with plans for at least 15 as part of restructure that will see 10 leave

February 26, 2021
G3 Motorhouse in Failsworth from Google
News

Car dealers must pay out thousands after Trading Standards investigation found they’d clocked cars

February 26, 2021
Mike Hawes
News

SMMT calls for dealers to open ‘ideally before April 12’ as car production levels slump to 12-year low

February 26, 2021
Online car sales on an iPad
News

Fifth of car buyers think online sales will overtake those in showrooms by 2025 – but many think it’ll never happen

February 26, 2021
The Volkswagen Tiguan R on the road
News

Feb 26 round-up: Smart motorway investigation; Queen says get jab; Twitter’s ‘Super Follows’ feature; Tiguan R on sale

February 26, 2021

Want the latest news?

Sign up to Car Dealer's daily news email updates

Subscribe
How many car dealerships does each manufacturer have in the UK? Car Dealerships Locations List 2021 revealed
News

How many car dealerships does each manufacturer have in the UK? Car Dealerships Locations List 2021 revealed

February 24, 2021
Used Car Awards with Mike Brewer and James Baggott graphi
News

Who won what at the Used Car Awards 2020? Mike Brewer reveals our winning car dealers

February 11, 2021
Car Dealer issue 156 front cover and Used Car Awards
Online Magazine

Out now: Car Dealer issue 156 features our Used Car Awards, H.R. Owen CEO Ken Choo and lots more

February 23, 2021
Used car market stronger than ever as August sees sales up by nearly 50 per cent for Big Motoring World
News

Opinion: Here are 10 reasons why I think there’ll be a rapid recovery in car sales when lockdown ends

February 16, 2021
Trophy Cars forecourt
News

Investigation: Meet the hyper-specialist car dealers making their money from weird and wonderful motors

February 11, 2021
Become a Car Dealer Plus member and get more out of this website including free legal advice
News

Become a Car Dealer Plus member and get more out of this website including free legal advice

January 15, 2021
Car Dealer Top 100 – The list in full of the most profitable car dealers in the UK
Car Dealer Top 100

Car Dealer Top 100 – The list in full of the most profitable car dealers in the UK

February 10, 2021
Bitcoin ATM terminal
News

Will car dealers in the UK accept Bitcoin for payment? Dealers speak out after Tesla plans to accept cryptocurrency 

February 18, 2021
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • Used Car Awards
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100
  • CD Plus
Call us: 020 8125 3880

© 2020 Blackball Media

No Result
View All Result
  • Car Dealer Plus
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • Used Car Awards
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100

© 2020 Blackball Media

Log In
Register
Register
Server C