U.s. Taxes: the price of cars will increase strongly

AFP

Thursday, 1 march 2018 21:00

UPDATE
Thursday, 1 march 2018 21:05

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The japanese giant’s Toyota car alarmed ” Friday, “the negative impact” the introduction of heavy taxes on imports of steel and aluminum in the United States, which will, according to him, result in a significant increase of the price of the vehicle.

“More than 90% of the steel and the aluminum that we buy (for the us market) come from the United States,” stressed Toyota in a statement sent to AFP.

“Nevertheless, the government’s decision to impose substantial taxes on steel and aluminum will have a negative impact on automakers, suppliers and consumers by dramatically increasing the costs and thus the prices of cars and trucks sold in America”, denounced the group.

The japanese manufacturer has sold in 2017, more than 2.4 million vehicles in the United States, its first market.

The american president spoke of the customs tariffs of 25% for steel and 10% for aluminum, without, however, specify which countries they will target, a threat that elicited indignant reactions of its trading partners, the european Union to Canada.

“I promulguerai next week,” said the tenant of the White House during a meeting with producers of steel and aluminum americans. “And they will be applied for a long time,” he assured.

This announcement falls hard for car manufacturers, facing a slow-down in the american market: after years of record since 2009, new car sales have for the first decreased in the year 2017, of the order of 2% 17,23 million units. A decline is also expected this year.

anb/lab