Oshawa mayor Dan Carter ‘optimistic’ despite hefty U.S. auto tariffs in effect

Oshawa mayor Dan Carter ‘optimistic’ despite hefty U.S. auto tariffs in effect

Oshawa Mayor Dan Carter says he’s hearing optimism from officials in the local auto sector despite the United States imposing 25 per cent tariffs on all foreign-made automobiles, a move that could have significant consequences for Ontario’s economy.

South African car manufacturers will not be able to absorb America's 25% import tax on cars and certain car parts.

Trump's new tariffs apply to all imported cars. German manufacturers are appalled – and put in place initial measures.

Trump is serious. First of all, his new tariffs are imposed on imported cars. German manufacturers are horrified - and take first steps.In the USA, the car tariffs announced by President Trump have come into force. Since midnight, 25 percent surcharge has been applied. The Association of the Automotive Industry (VDA) expects to be burdened by the industry and rising prices, initially in the USA. However, the consequences of the 25 percent tariff…

Trump is serious. His new tariffs will hit imported cars first. One expert expects German auto production to shift to the USA. But it's not just the auto industry that's shaken. According to the Kiel-based trade economist, the tariffs could cost Germany 0.5 percent of economic growth. Meanwhile, the price of gold has reached a new record high, and the DAX has plummeted.

According to car expert Ferdinand Dudenhöffer, the US car import tariffs will lead to a further relocation of German production to the USA and job cuts in Germany. “If tariffs remain long-term, German car manufacturers will continue to relocate their production to the USA,” the director of the CAR Center Automotive Research told the newspapers of the Funke media group. As a result, more jobs were lost in Germany. “Today, around 780,000 people st…