I posted that a while back when this whole nightmare started. It's either Business News or Wall Street...one of the business publications. But it's no secret and China was already in the process, tariffs were already lowered to I think 10% before trump got in the way and now they are up to 40%. China had already announced their plans to Zero the tariffs along with lifting other restrictions, like what they have already done with the shared ownership of foreign companies in China for 2018, 2019 had lower tariffs and other restrictions removed, then in 2020, tariffs down to Zero. Even China explained that it all could not happen at the same time, while trying to maintain economic stability and growth in China longer term. But trump is impatient and reactionary, along with not understanding the complexities of global manufacturing and economics..... or geography for that matter.
Remember this from earlier last week?
Following a summit on trade in Buenos Aires earlier this month, President Trump tweeted that China agreed to "reduce and remove" tariffs on imported American-made cars, something China did not confirm at the time.
Even news today that state that "China to cut tariffs on U.S. autos to 15 percent, Trump official says"
Has to be followed by: Washington still had not received documentation nor timing details of the tariff reduction, the official said, speaking on condition of anonymity.
This is just trump forcing someone in his office to get a story out as if there is progress, when there is none and it's obvious that he can't fix the problem, without admitting he was wrong....and roll back all his threats....but it's doubtful that will happen unless he blames someone other than China for his screw-up. And the ONLY parties that are hurt by his actions are US based manufacturers. China is not bothered much at all, because the manufacturers are coming to them, building plants, employing their people, improving their economy, making China stronger, because trump made it happen.
Before trump, when two world leaders came to an understanding, there was a press conference with both parties either siting next to each other or standing, or shaking hands in agreement of the understanding. But today, world leaders can't stand to be in the same space with trump, let along shake his hand. And China has no reason to drop the tariffs, since the negative impact is on the US, with the situation created by trump.
Now his party is trying to force GM to make EVs in the US, when they don't support EV production in the US while at the same time trump wants to eliminate all financial incentives for EV production and sales in the US. Tesla is the ONLY American auto manufacturer that invested heavily and is building high volume EVs in the US at a profit, and he wants to remove incentives on EV sales. So like the rest of the auto industry, they are ALL racing as fast as they can to build EV manufacturing and battery manufacturing plants in China and the rest of the world that supports the future of transportation.....but not in the US.
SP asked a simple question about a link to back your remark about Zero Tariffs, and you failed to provide it, and instead went on about your opinions on style over substance. This is nothing new, it’s what the media thrives on every day, all day – style over substance. The substance that you and the media avoid in this case, is of course to better this country through fair trade – something that we are winning at. Trump’s style is well known to be verbose and inflated to extremes, but so what, he is an accomplished deal maker his whole life who has been saying the same things about what is best for this country, since the 80’s. Typically, so do politicians, who then fail to do them. The people who voted for Trump know this, and agree with his politics. People upset by style and words and tweets, are properly called angry snowflakes. If this upsets you, maybe it should. Although you will no doubt never get over it, that’s too bad. He won the election fair and square, in a land slide actually, and not because of Russia. What a ruse that so many fall for. This country was in a coma before Trump showed up, now it is hitting on all cylinders in less than two freaking years, and the next 6 years will be like nitrous was injected. Amazingly, he did all this, even though democrats obstruct his every move.
Capitalism and fair trade. That is what will continue to propagate the success of this country…..not a government that chokes growth through massive taxation and regulation, to support their own needs.
And BTW, Ford’s small cost of temporary tariff increases is nothing compared to the billions they will save due to lowered taxes and the un-choking of so many regulations. Again, substance over style.