Trump automotive prices attract reprimands, the concern of American trade partners

London – After the announcement by President Trump by 25% of prices on cars and automotive parts imported in the United States, American trade partners in the world have condemned the policy. Trump said the prices will take effect on April 2, fueling a boom – promised – in American economic growth.

He said that there would be a transition period before the Americans harvest the advantages of its foreign and economic policy led by prices, but for the myriads of nations which sell cars and components in the United States, the impacts could be rapid and devastating.

You will find below an overview of how some of the largest trade partners in the American automotive industry have reacted to the last prices announced by the White House.

Canada

The new prices would continue to upset decades of free trade between the nearest American neighbors, including one of its largest business partners overall, Canada.

“President Trump announced 25% of prices against our automotive industry, and this is a direct attack,” Canadian Prime Minister Mark Carney said on a press conference on Wednesday.

“It will hurt us,” he said, adding that “Canadians as a whole through this country have overcome the shock of betrayal and learn lessons. We have to watch ourselves and we have to watch each other for each other and work together for each other.”

The Prime Minister said Canada would respond to measures with reprisal prices and that he expected to speak with Trump about the commercial impasse.

Mexico

Mexico said Thursday that it was already working with the Trump administration to cut an exemption for its automotive industry following the president's announcement.

The 25% prices that Trump announced on Wednesday include certain exemptions for vehicles and parts that fall under the USMCA free trade agreement between the United States and Mexico and Canada, but Mexican President Claudia Sheinbaum said under this pre-existing trade agreement, “there should not be any prices, that is to say the essence of commercial treatment.

While she was talking, the Minister of Mexico of the Economy, Marcelo Ebrard, was in Washington, meeting officials of Trump's administration.

“If we go to such a high prices system, what we have to look for is a preferential treatment for Mexico in a way that we have conditions that protect our jobs and our economic activity,” Ebrard said in a press release.

What consumers should know about President Trump's price on cars made abroad 01:49

Mexico exported approximately 2.5 million vehicles in the United States in 2024, said the reuters news agency, citing S&P Global Mobility.

China

Beijing criticized the escalation in the trade war Thursday, the spokesman for the Chinese Foreign Ministry, Guo Jiakun, told journalists: “There are no winners in commercial wars and tariff wars, and no development and prosperity of the country are obtained by imposing prices.”

Trump had suggested that China could be granted a reduction in prices which he imposed in exchange for an agreement that would see the social media platform Tiktok, the Chinese parent bytedance sells the widely popular application to an American company.

“There are many ways to buy tiktok, and we will find the best for the country,” Trump said on Wednesday. “Maybe I'm going to give them [China] A little reduction in prices or something to do it, you know, because each price point is worth more money than Tiktok. “”

Under a national security law adopted by the US Congress and signed by President Biden last year, Bytedance is faced with a deadline of April 5 to find a non-Chinese buyer for Tiktok, or the application will face a ban in the United States

Responding to Mr. Trump's comments, the spokesman for the Chinese Foreign Ministry rejected the suggestion on Thursday, saying: “China clearly indicated its position on Tiktok's issue on several occasions, and its opposition to additional prices is also consistent and clear.”

Japan

Japanese government spokesperson Yoshimasha Hayashi called on the recently announced “extremely regrettable” prices on Thursday, and he urged the United States to exempt the country from measures.

Automobiles represented more than 28% of total exports from Japan to the United States in 2024 – the largest Japanese export to America, according to data from the Japanese Ministry of Finance cited by Reuters.

Japanese Prime Minister Shigeru Ishiba, meanwhile, called into question the logic of Mr. Trump's policy, citing the investment that his country has made in the United States.

“Japan is a country that makes the largest investment in the United States, so we wonder if it makes sense to [Washington] To apply uniform prices to all countries. This is a point that we raised and will continue to do so, “he said on Thursday.

South Korea

The Minister of the Interior of South Korea said Thursday that the country's automotive industry would take a significant blow as a result of the new prices announced my Trump.

“About 50% of our car exports go to the United States, so there are concerns about significant damage to the automotive industry,” Ahn Duk-Geun said at a press conference. “The difficulties will be particularly serious not only for finished car manufacturers, but also for parts suppliers.”

Europe

The main American allies in Europe and the continent's automotive industry expressed their concern about new prices on Thursday and urged Mr. Trump to reconsider.

The president of the European Commission, Ursula von der Leyen, described the prices, “bad for businesses, worse for consumers, in the United States and the EU”.

“The EU will continue to seek negotiated solutions, while protecting its economic interests,” she said in an article on social networks.

The German Minister of Economy, Robert Habeck, called for European strength and solidarity in response to the measures.

“The high American prices are not surprising. We are prepared. What matters now is that the EU reacts in a decisive way to the price. It must be clear that we will not back up against the United States,” he said.

The European Automobile Manufacturers Association – The main group of Lobbies in the EU automotive industry – said that it was deeply concerned about Mr. Trump's announcement.

“European car manufacturers have been investing in the United States for decades, creating jobs, promoting the economic growth of local communities and generating massive tax revenues for the United States government,” said ACEA Director, Sigrid de Vries, in a statement. “We urge President Trump to consider the negative impact of prices not only on world car manufacturers, but also on American national manufacturing.”

In London, British Prime Minister Keir Starmer qualified Trump's automotive prices “very worrying”, but said the United Kingdom would not rush “in a trade war” with the United States and would continue to “intense” to conclude a large trade agreement with Washington.

Chancellor of chessboard Rachel Reeves, the Minister of the Cabinet in charge of the economy, said in an interview on Thursday that the British government would put pressure on the White House to cut an exemption for British car manufacturers.

“Our two savings are so closely linked,” she said. “I believe, and we assert this affair in the United States, that free trade, fair trade, is good for our two countries. But see where we arrive in the coming days.”

More CBS News

Emmet Lyons

Emmet Lyons is editor -in -chief of the press office at CBS News London Bureau, coordinating and producing stories for all CBS new platforms. Before joining CBS News, Emmet worked as a producer at CNN for four years.

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: cgurgu@internetmarketingcompany.BizWebsite: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos