Trump’s big trade deal with Japan is a raw deal for Detroit Three automakers and American autoworkers. Cars made in Japan will be subject to a 15% tariff. Cars made in Mexico or Canada with U.S. parts will be subject to a 25% tariff, subject to credits for U.S.-made parts, but the overall product will likely be more costly to the consumer than its Japanese competitor. And cars made in the U.S. will face hefty tariffs on imported steel and aluminum, as well as higher-priced domestic steel and aluminum as U.S. steel and aluminum makers opportunistically raise prices to near-imported levels.
Jul 25
at
7:30 PM
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