September 15, 2018

TAX WHAT YOU DON'T WANT:

Trade war: American autos look to be hit the most by both US and China tariffs (Evelyn Cheng, 14 Sept 2018, CNBC)

U.S. automakers in China are feeling the most pain as some American companies are getting hurt by new tariffs from both the White House and Beijing, according to a survey released this week from the American Chamber of Commerce in Shanghai and Beijing-based American Chamber of Commerce in China. [...]

The initial round of U.S. tariffs has affected 80.5 percent of survey respondents in the automotive industry, and 75 percent say the Chinese duties have hit them. That makes the industry the only one to appear in the ranks of the three or four most impacted by tariffs from both sides.

Overall, the survey found more than 60 percent of respondents are affected by the U.S. and Chinese tariffs, and significantly more expect negative impact from the proposed second round of duties.

Posted by at September 15, 2018 9:33 AM

  

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