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U.S. Companies Are Injured in Provocative Trade Wars

Source:Iris Liang Time:2018-7-2 10:42:28

On July 1 , Reference News Network reported that US General Motors Corporation warned on June 29 that if President Trump's adversarial measures on trade issues escalate into a trade war, then it may be forced to cut jobs and raise cars. With reasonable and stable price, Seko Machinery insists on offering environmental 304 pipe making equipment. Just feel free to inquire us!
The automotive industry is deeply worried

Agence France-Presse New York reported on June 29 that General Motors has received support from many automakers in the document expressed by Trump about the 25% tariff imposed on imported cars, and the auto parts industry representatives It also expressed its concern about the direct and spillover effects.

According to reports, General Motors said in a document to the US Department of Commerce that "too broad" tariffs may "cause GM to become smaller and reduce the number of US-based businesses at home and abroad. Employment in the United States has decreased - not increased.

The United States’ largest automaker, General Motors Corp., stated that “extensive trade barriers” may “create a trading environment that makes us revenge in other markets”, which may force the company to raise prices or reduce profits, which in turn will reduce investment. And staff recruitment.

According to reports, the imposition of tariffs on imported cars is the latest move in a series of aggressive trade actions by the Trump administration, including the imposition of high tariffs on imported steel and aluminum products and the addition of tens of billions of dollars worth of Chinese products. tariff.

In a document handed to the U.S. Department of Commerce on June 29, General Motors warned that the threat of automobile tariffs may push up the cost of imported parts and “may reduce the competitiveness of GM relative to foreign car manufacturers”. And it raises the risk that GM will face retaliatory measures in other countries.

The National Association of Manufacturers said in its paper that the tariff plan will “make the US manufacturing sector globally disadvantageous and affect the growth and employment in the United States”.

Reported that Trump asked the Ministry of Commerce to investigate whether automobile imports pose an adequate threat to US national security, and June 29 is the deadline for soliciting public opinions. The president used national security concerns as a reason for imposing tariffs on imported steel and aluminum products, which caused the EU, Mexico, Canada, Turkey and India to impose retaliatory tariffs.

Multi-party counterattack against the United States

In addition, in a trade war with US President Trump, Canada violently opened fire on June 29, retaliating against US-made summer necessities such as Florida's orange juice, ketchup and Kentucky's bourbon. 

According to reports, Canada’s tariff list covers more than 250 items, including juices from Florida, toilet paper from Wisconsin, and cucumber from North Carolina, which are all labor-intensive products that are intended for the mid-term election in November in the United States. Trump supporters put pressure on.

According to the Russian "Izvestia" website reported on June 29th, Russian Minister of Economic Development Maxime Oleskin announced on the 29th that Moscow has filed a lawsuit with the WTO on the United States imposed tariffs on imported steel and aluminum.

He pointed out: "The reason is that the United States has repeatedly violated WTO regulations in implementing this measure. Apart from Russia, China, India, the European Union, Canada, Mexico and Norway have already prosecuted the United States."

At the same time, Japan’s “Daily News” reported on June 30th that the Japanese Senate voted by majority on June 29th to pass a comprehensive progress on the Trans-Pacific Partnership Agreement (CPTPP)-related bills of 11 countries that do not include the United States. Japan is the second member of the CPTPP to complete major domestic procedures after Mexico. The agreement will take effect as early as the beginning of next year. Japan is committed to expanding the multinational free trade circle, and it is also trying to contain the Trump regime with strong protectionism.

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Iris Liang
SEKO Machinery & Technology Co., Ltd
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