Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
The three Detroit automobile manufacturers exploded the White House for launching the US car industry under the proverbial bus with their trade agreement in the United Kingdom.
On Thursday, a group of lobby representing General Motors, Ford and Stellalantis expressed “disappointment” that their competitors in the United Kingdom are getting better than British cars that have no North -American content in the form of tensile and chassis components.
“By virtue of this agreement, it will now be cheaper to import a British vehicle with very little United States than a vehicle compatible with usmca of Mexico or Canada, which is half of the American parts”, he said Matt Blunt, President of the American Automotive Policy Council.
FortuneHe arrived at the White House for comments, but did not receive a response outside the normal work schedule.
Blunt criticism occurs after Trump negotiated the provisional stroke of an agreement that would be seen among other concessions that the United States falls to its 25% sectoral rate up to 10% of the value of a vehicle, a level that reflects the UK’s own duty in imported cars.
Although this is only valid for the first 100,000 vehicles, with cars above and above, once again subject to the full duty, it perfectly agrees with the volumes exported from Britain last year.
Blunt also criticized that the “first” president of America should have prioritized conversations that would first help his own national industry, instead of investing political time and capital for the benefit of British rivals.
“This hurts the manufacturers of automobiles, suppliers and workers of North -Americans. We hope that this preferred access for vehicles in the United Kingdom over the North -Americans will not establish a precedent for future negotiations with Asian and European competitors,” Blunt continued.
The calendar of the provisional agreement – which is only a wide scheme and still has to be completed – however, it was governed by political realities on each side of the Atlantic.
Both the Prime Minister of the United Kingdom, Keir Starmer and Trump, have been under strong pressure to the end. The first work party was fair Trounced in local elections While the evaluations of the President of the United States have sunk after leading the country to a potential During a trade war with his Closest allies.
The agreement represents tovery necessary victoryFor the two troubled statesmen, with TrumptrumpetA “great trade agreement” with a “large and very respected country” on social truth before it was really official.
While Blunt was the purpose of the agreement, his counterpart from the Society of Manufacturers and Merchants of the Automobile was too happy to make it “Great News” for his United Kingdom industry.
“The application of these rates was a severe and immediate threat to automobile exporters in the United Kingdom, so this agreement will provide a very necessary relief,” he said Mike Hawes, CEO of SMMT.
The sincere critic of the administration of Blunt is unusual. Despite the fact that the approved approval valuations for the President so soon within a period, companies have been careful not to fight Trump, given their reputation of government based on instinct Instead of studying policy analysis.
The President even confessed to being inclined to reduce the rates he had unilaterally imposed without the consent of Congress, as they considered himself critical to the National Security of the United States. Thursday, Trump told journalists that he gave them a preferential treatment because he was personallypartial of British ultra-luxated car marksLike McLaren, Bentley and Rolls-Royce.
“This is really handmade. They do it for a long time at the same location,” he said. “So I said,” Yes, I would be fine. We help them with that. “
Although the 100,000 vehicle lid manages a hard roof in greater growth for the UK automobile industry, investors welcomed the trade agreement bidding shares In Aston Martin Llonda, the only British bag maker included by the car maker, 14% higher than the commercial session on Thursday.
This story originally presented to Fortune.com