The UK auto industry pales in comparison to the nearby German juggernaut, though Britons looking to purchase a new vehicle in the coming years might discover their preferred Teutonic ride has suddenly jumped in price.
That’ll be the reality come 2021 if the UK can’t come up with a new trade deal with its newly distant European Union neighbors. Post-Brexit, the country has no other choice at the current time but to impose default World Trade Organization tariffs of 10 percent on all European-built vehicles.
On Wednesday, President Donald Trump threatened to impose fresh tariffs on European automotive imports if the region can’t work out a trade deal with the United States. The good news is that the U.S. is already in the opening stages of negotiation with the United Kingdom, which is due to leave the EU at the end of January. British Prime Minister Boris Johnson has even said a key benefit of Brexit is the ability to negotiate with countries like the U.S. independently.
Unfortunately, the rest of Europe doesn’t seem as eager to do business — encouraging Trump to fall back to tariff threats. But there’s clearly a retaliatory angle here. In 2018, the EU threatened punitive tariffs on traditionally American items like whiskey and motorcycles as a response to Trump’s intent to impose tariffs on steel and aluminum. He’s targeting French goods this time, mentioning 100-percent fees on imported luxury goods from France (champagne, handbags, etc.), additional levies on digital services, and a 25 percent duty on European cars.
I hope you’re fond of domestic automobiles.
The Trump administration is setting the table to make importing cars more difficult with the U.S. Senate confirming Robert Lighthizer in an 82-14 vote as the U.S. trade representative, prepping the country for an assertive trust from the White House’s America First trade strategy.
Not knowing what to expect from President-elect Donald Trump once he moves into the White House, automakers spend yesterday issuing nice-sounding congratulatory messages that masked an industry-wide concern over what happens next.
Formal pleasantries aside, one automaker feels that Trump’s policies could stand to benefit its bottom line.
Less than a year after joining the WTO, Russia finds itself dragged in front of the same. The EU launched a formal trade dispute with Russia, claiming that its Eastern neighbor is “illegally protecting its carmakers with a recycling fee levied on imported cars,” as Reuters reports.
The United States will report China to the WTO tomorrow, Reuters says. The contention: China’s decision to impose extra duties on more than $3 billion worth of cars imported from the U.S. According to Reuters, “the complaint comes as President Barack Obama campaigns in Ohio, where auto plants have been affected by the duties.” The Prez goes on a “Betting on America” bus tour.
It is a regular occurrence. Every few months, the Lansing Senator Debbie Stabenow rushes to the aid of GM and Ford and defends them against the nasty Chinese. The problem is: GM and Ford don’t want or need her help.
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- Sonik_fury I always dreamed, if I won the lottery, that I would have a garage very similar to Leno's. I love that he's a real car guy, not just buying them to show off.
- 3SpeedAutomatic "...to make room for reality TV reruns..."What an insult!! Shows how far broadcast TV will stoop for a few extra bucks.I much appreciate Jay for keeping the "motor head" world alive in a Zoom society. However, maybe it's time for him to retire or semi-retire. There's enough material for him to do YouTube with most auto related companies willing to underwrite....but the number of shows would be at his own pace.I wish him well!!
- Gregtwelve I had an '88 Turbo Coupe with 5 spd bought used and really liked it. I loved the looks, it had decent power for the time and a nice interior. Unfortunately the head gasket went at around 60K miles. I repaired it myself and sold it.
- Mattwc1 I bought a Maverick specifically because I wanted utility and great fuel economy. My wife has a RAV4 hybrid that we really like. I think Toyota would print money with a smaller RAV4 based truck.
- Varezhka Dunno. Looking at Maverick and Santa Cruz, having the engine in the front of the driver and a crew cab layout will mean the rear bed will be about the same size as kei trucks. And it will still be more than 16ft long. I'd rather get a Tacoma and/or a Hilux at that point.If we actually want a small truck with usable bed, it will have to be cab over layout with standard cab like Toyota TownAce Truck. We already know how popular that would be, even without getting into federal safety requirements.