Two words sum up how auto companies are portraying the future if the Trump administration determines that car imports are a national security threat and slaps imported vehicles and parts with tariffs: doom and gloom.
"The actual tariff is not a big problem to companies planning for their future,” said Nobel laureate Christopher Pissarides, who teaches at the London School of Economics. "The problem is that you don’t know what’s coming next."
The President threatened a 20% tariff on cars imported from the EU, unless the bloc removes import duties on U.S. goods which the EU had imposed on $3.3 billion of American products in response to barriers to imported aluminum and steel.
When President Trump took office last year, he made big promises to slash 'job-killing' regulations. Eighteen months in, it’s time to ask if this regulatory overhaul is having the effect manufacturers had hoped for.