President Trump tweeted Monday morning that China has agreed to cut taxes and tariffs on U.S. automobiles exported to the country. The tariff reduction is a huge boon to automakers that build cars in the U.S. and export them to China.
Automakers most affected by the tariffs currently include Ford, Tesla, Mercedes-Benz and BMW. General Motors does not export cars from the U.S. to China, but instead operates a robust manufacturing footprint locally. GM has, so far, been more concerned about U.S. tariffs on cars that come from China. The automaker only builds one model in China for export to the U.S., the Buick Envision, but filed a request earlier this year to exclude the car. It’s unclear if GM was ever granted that request.
GM also said it could drop the Envision model from the U.S. lineup if tariffs took hold.
But, for now, it’s good news for GM all around. President Trump and Chinese President Xi agreed to a 90-day ceasefire on a crippling trade war for both countries. GM, and other companies have cried foul over rising raw material prices and warned the administration the current trade policy may result in negative impacts. GM specifically penned a letter earlier this year that warned of a smaller automaker domestically and abroad.
A week ago, GM announced it would idle four U.S. production plants and close one Canadian plant by the end of 2019. Two other international plants are also on the chopping block. The decision killed numerous passenger cars in the process; the Chevrolet Impala, Volt, Cruze, Buick LaCrosse, and Cadillac CT6 will no longer be offered in the U.S.
The White House has not made an official comment on China’s agreement to cut and remove tariffs on American-made vehicles.
Comments
PRESIDENT TRUMP SEEMS TO HAVE WON THIS ONE BIGLY.
Donald J. Trump
@realDonaldTrump
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China has agreed to reduce and remove tariffs on cars coming into China from the U.S. Currently the tariff is 40%.
Even better, the headline on Zerohedge (dot) com reads:
“World stocks, US Futures, Crude Soar as Trump, Xi deliver Early Christmas Rally”
THANK YOU PRESIDENT TRUMP. ANS, NO, I AM NOT TIRED OF WINNING YET…
Q, you’re obviously a fan of science fiction…
None of this has been confirmed by China. Absolutely nothing.
Trump also said that North Korea had agreed to eliminate nuclear weapons, yet all intelligence from multiple sources is indicating that their nuclear program has actually accelerated.
How many times can Trumptards be fooled?
Hey loser –
Here’s a video of North Korean and South Korean soldiers meeting peacefully in their DMZ. Rocket launches have stopped and Nuclear Armageddon has been called off. You’re welcome.
https://www.washingtonpost.com/video/world/north-and-south-korean-soldiers-meet-to-reconnect-a-road-in-dmz/2018/11/23/c6ddf9c6-eee9-11e8-8b47-bd0975fd6199_video.html?utm_term=.f276fc13e3c3
Hey stupid American cretin!
All it takes is a little theatre to fool you. No wonder you believe fictional reality shows are real.
Why don’t you look for something real in your fictional life. One day you may realize that everything you believe is BS.
Educate yourself.
https://www.cbc.ca/news/world/north-korea-nuclear-iaea-1.4915901
Heya Cupcake –
So the IAEA is a branch of the UN, which isn’t a friend of President Trump or the US most of the time. Too interested in socialism and redistributing 1st world wealth for that. Did you even read your article or did you just confirm your own biases?
“Since then, North Korea appears to have begun dismantling a pair of missile testing and launching facilities, according to a report published by North Korea analysis website 38 North in July. But UN experts have warned the country has not moved toward the sort of full, irreversible denuclearization program Washington has called for.
At Yongbyon, North Korea’s main nuclear facility that is widely believed to have provided fissile material for its bombs, components appear to have been brought into a light-water reactor being built there, IAEA chief Yukiya Amano said.
“At the light-water reactor, the agency also observed activities consistent with the fabrication of reactor components and the possible transfer of these components into the reactor building,” Amano said in a statement to the IAEA’s board of governors, reporting on the period since August.”
So they are taking some steps, but not all. There’s no deal in place yet, but another summit is being planned. But tensions between the Koreas is at an all time low, the Norks aren’t launching any more missiles, and the US got all three of our hostages returned gratis.
In other words, the situation is better than it’s been anytime since the Koreas split, and we’re on what looks to be a decent path to peace on the Korean peninsula. But keep telling yourself #OrangeManBad.
Moron.
S.
Don’t forget Trump and Kim “fell in love” as stated by the Orange Turd.
What could go wrong?
Steve,
So sad to see that you live alone in a trailer park, uneducated without employment. No doubt that people “of your kind” are angry and want to blow-up the system. Perhaps one day, you will realize how things work in the real world and the incredible mistake of supporting a group of criminals which have taken over your country.
But then again, you just may die stupid, angry and ignorant like so many others. Lol
Steve the dirt bag,
Trump’s destruction of America continues. The markets are crashing and accelerating to the down side. Thanks for nothing.
https://www.investing.com/news/stock-market-news/stocks–wall-street-slips-on-trade-truce-concerns-1710154
Are you tired of being a simpleton?
Your mother must have been really disappointed that you were born a moron or was that standard fare at the trailer park.
Huge win for the BIg Three if true but my only question i show do you remove and reduce?
Isn’t it one or the other?
i’ll believe it when china confirms. we all know by now trump says a lot of things that aren’t true.
Really, Steve…Name something that President Trump says that wasnt true…….Waiting.
President Trump is a master at feinting, misdirection, and strategizing. Hence the major win against China.
Markets are already giving the deal a thumbs up, steve. Looks like the experts disagree with you.
Only been reported in the NY Times as well as the Washington Post that Trump has told over 6400 lies since taking office in Jan 2017.
Oh sorry, I forgot they are all fake news outlets. MORONS!
Just because you and your ilk have fallen for the feinting, misdirection, and strategizing (ROFLMAO) only proves that a Con Man has to know their mark.
have you heard the story of “mike the headless chicken”? in 1945 a farmer cut the head off a chicken planning to have him for supper. but by some miracle, the chicken lived for another year or two. during that time, the farmer took the chicken to fairs, carnivals, etc … and made a lot of money for that farmer. people would come and pay good money just to see that chicken.
i mention that because trump reminds me of that chicken. he has a vestigial brain that has been wasted away due to dementia. clearly, any part of that brain responsible for decency, rational thought, humility, self-awareness no longer exists … there is just enough there to be a carnival curiosity.
His whole time in office has been like a sideshow at a cheap carnival ” Don the headless Weasel”.
IT’S VERY CLEAR THAT THE US AND TRUMP WERE LOSING THE TRADE WAR STARTED BY TRUMP. So without any significant resolution, TRUMP CAVED and to help him save face, China threw him a bone.
What a joke and for those fools who believe that the US actually won something, you are oozing with stupidity and ignorance. You probably think that closing 4 plants is a good thing.
Meanwhile the trade deficit with China has skyrocketed with Trump’s action as China are moving their US purchases elsewhere.
TRUMP THE BONE SPUR DRAFT DODGING COWARD CAVED AGAIN, JUST LIKE HE DID WITH NORTH KOREA.
I have a non poloical question. How many American cars made in The USA are sold in China? I would wager that with the difference in manufacturing cost of USA vs China not many now or in the future.
Tesla and a handful of Raptors that I know of.
Whatever the number, it’s really small due to the hyper nationalistic view proud Chinese people. They prefer to buy Chinese made.
Funny how there is NO China reply/confirmation to Trumpty Dumbty’s tweet. WHY???!!!
No resolution to theft of intellectual property, no resolution to forced corporate intellectual property being given to the Chinese for the ability to manufacture there and SELL HERE?? What has GM given away for market share?? This is all a fraud and shown how China STILL has control =’s trumps BS!!