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Fact check: Trump claims of an auto boom are incorrect

Fact check: Trump claims of an auto boom are incorrect

President Trump has raised the prospect of slapping a 25 percent tariff on imported cars in response to General Motors Co.'s announcement of plant closures this week in a move that would hit key allies such as the European Union and Japan hardest.

Trump has said in the past that those threats were meant as a way to extract concessions from other countries on unrelated trade matters. They are following their business plan.

The survey showed American consumers will bear much of the cost of Trump's tariffs in 2019 in the form of higher prices.

It's also a frequent recipient of major research and defense contracts.

In two tweets, the president said that extending tariffs already in place for foreign-built small trucks to the auto sector would help domestic manufacturers.

No single event like the Trump tax bill or the Trump tariffs can be blamed for GM's decision, Wyndham said.

GM Chief Executive Mary Barra spoke to Trump over the weekend to discuss the cuts and was at the White House on Monday to meet with economic adviser Larry Kudlow.

U.S. Trade Representative Robert Lighthizer will "examine all available tools to equalize the tariffs applied to automobiles", he said in a statement released Wednesday. Trump added he has "great power on this issue", which he said "is being studied now".

Forest Service releases video of gender reveal explosion that caused wildfire
The weather station is at 7,100 feet and the location of the party where the fire started is most likely around 4,000 feet. The video shows an explosive-laden package standing in a dry, grassy field, with the words "boy" and "girl" painted on it.


His point is that by driving up the cost of foreign-made automobiles, U.S. consumers would gravitate toward less costly American-made products.

It's unclear whether Trump has authority to revoke subsidies without action by Congress.

Trump's tweet comes as his administration is mulling whether to apply fresh tariffs on imported autos under national security grounds, as it did on steel and aluminum imports. "My office sent a copy of the bill over to the White House [Wednesday night] and we will continue doing everything we can to fight for OH jobs".

"It was a myth to say that the USMCA was going to save all these auto jobs, and it's a myth to say that the USMCA caused these closures", Ujczo said. The government invested about $50 billion to bail out GM as a result of the company's 2009 bankruptcy, and at one time held a 61 percent equity stake in the Detroit-based automaker. And on Wednesday, he threatened the new auto tariffs. It sparked tariffs on foreign-made brandy, dextrin, potato starch and vehicles - specifically, light trucks, such as pickups.

GM had to guess Trump might react the way he did.

Treasury whittled down its GM stake through a series of stock sales starting in November 2010, with the remaining shares sold in December 2013 at a $11.2 billion loss. And U.S. taxpayers lost more than $10 billion in the rescue of the company during the financial crisis a decade ago. The Treasury Department managed the government loan program, and Mnuchin has prided himself on an acute knowledge of all the agency's operations.

A German magazine reported that the measures could be announced as early as next week, targeting all autos apart from those made in Canada and Mexico.

OH and much of the rest of the industrial Midwest were vital to President Donald Trump's campaign in 2016 and probably will be again in 2020.


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