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Two major auto trade groups yesterday warned the Trump administration that imposing up to 25 percent tariffs on imported vehicles would cost hundreds of thousands of auto jobs, dramatically hike prices on vehicles and threaten industry spending on self-driving cars.To get more latest car news, you can visit shine news official website.
A coalition representing major foreign automakers including Toyota Motor Corp, Volkswagen AG, BMW AG, and Hyundai Motor Co, said the tariffs would harm automakers and US consumers. The administration in May launched an investigation into whether imported vehicles pose a national security threat and President Donald Trump has repeatedly threatened to quickly impose tariffs.
“The greatest threat to the US automotive industry at this time is the possibility the administration will impose duties on imports in connection with this investigation,” wrote the Association of Global Automakers representing major foreign automakers. “Such duties would raise prices for American consumers, limit their choices, and suppress sales and US production of vehicles.”
The group added: “Rather than creating jobs, these tariffs would result in the loss of hundreds of thousands of American jobs producing and selling cars, SUVs, trucks and auto parts.”
On Friday Trump threatened to impose a 20 percent tariff on all imports of European Union-assembled cars. On Tuesday Trump said tariffs are coming soon. “We are finishing our study of Tariffs on cars from the EU in that they have long taken advantage of the US in the form of Trade Barriers and Tariffs. In the end it will all even out — and it won’t take very long!” Trump tweeted.
The Alliance of Automobile Manufacturers, representing General Motors Co, Ford Motor Co, Daimler AG, Toyota and others, urged the administration in separate comments filed yesterday not to go forward.
“We believe the resulting impact of tariffs on imported vehicles and vehicle components will ultimately harm US economic security and weaken our national security,” the group wrote, calling the tariffs a “mistake” and adding imposing them “could very well set a dangerous precedent that other nations could use to protect their local market from foreign competition.”
The alliance said its analysis of 2017 auto sales data showed a 25 percent tariff on imported vehicles would result in an average price increase of US$5,800, which would boost costs to American consumers by nearly US$45 billion annually.
Automakers are concerned tariffs will mean less capital to spend on self-driving cars and electric vehicles.
“We are already in the midst of an intense global race to lead on electrification and automation. The increased costs associated with the proposed tariffs may result in diminishing the US’ competitiveness in developing these advanced technologies,” the alliance wrote.
Both automotive trade groups cited a study by the Peterson Institute for International Economics that the cost to US jobs from the import duties would be 195,000 jobs and could be as high as 624,000 jobs if other countries retaliate.
South Korea’s Hyundai Motor Co said two new factories in China will produce more environmentally friendly vehicles and models targeting the world’s biggest auto market, as the automaker strives to fend off growing competition from Chinese rivals.To get more china auto news, you can visit shine news official website.
Hyundai said in a statement on Tuesday it has completed its latest Chinese plant, its fourth, in Cangzhou, Hebei province, and will open another one in Chongqing next year. The addition of the two plants-each with annual production capacity of 300,000-will lift the total number of vehicles it can make in China, its biggest market, by about half to 1.81 million a year.
The focus on green cars is part of a new Hyundai strategy for China. The automaker, which ranks third in China sales together with affiliate Kia Motors, has seen its market share fall to 8.9 percent last year-a seven-year low-from 10.4 percent a year earlier as Chinese rivals lured away customers.
“We will accelerate our efforts to achieve a market share of more than 10 percent again with the opening of Cangzhou factory,” Hyundai said. It didn’t disclose how much it’s investing in the new plants.
The South Korean duo will have total production capacity in China of 2.7 million vehicles once Kia’s 890,000 capacity is counted in.
Hyundai said it aims to produce nine green vehicles in China by 2020, targeting 10 percent of its sales in the country by that year, to meet fuel economy regulations and compete with Chinese automakers, which dominate the segment.
The automaker said the new plants will build models of varying sizes to compete with low-cost Chinese rivals.
As part of its new strategy, Hyundai will boost the number of China dealerships to 1,400 by 2020, from 1,000 currently. It also plans to secure dealers in southwestern regions and small cities.
The Shanghai Composite Index retreated 2.5 per cent on Monday, giving up gains from a 2.2 per cent rebound on Friday. Monday’s declines have pushed the broad market to a valuation of 10.3 times forward earnings for the next 12 months on a weekly basis, the lowest since December 2014, according to Bloomberg data. Hong Kong’s market was shut for a public holiday.To get more china market news, you can visit shine news official website.
Large companies, including property developers and insurance companies, paced the declines as traders continued to offload their equity holdings before the release of second-quarter economic growth due out in mid-July, which will provide the first snapshot of China’s economic strength after trade tensions with the US flared up.
While a purchasing managers’ index released over the weekend showed the manufacturing industry was still expanding in June, a sub-gauge of new export orders fell below the line indicating contraction, stoking concern that external demand is weakening.
“All eyes will be on the economic data this month and there’s a lot
of downside pressure on the economy on the backdrop of the trade war,”
said Wu Kan, a fund manager at Shanshan Finance in Shanghai. “The stock
market is still seeking its bottom and we may be pretty close to it now,
given the magnitude of the decline in the first half.”
The Shanghai Composite slid 14 per cent in the six months through June,
making it the worst-performing benchmark among the world’s major
markets, even as its yuan-traded stocks were added to MSCI’s global
gauges for the first time in June.
The index lost 71.86 points to 2,775.56 at the close on Monday. The CSI 300 Index of large companies sank 2.9 per cent and the technology-heavy ChiNext gauge tracking growth stocks shed 1.1 per cent.
A depreciating yuan also weighed on equities as the yuan dropped 0.4 per cent against the US dollar to 6.649, the lowest level in seven months.
A gauge of property stocks on the Shanghai Composite tumbled 5.4 per cent, its steepest single-day drop since February, as the rout on the sector continued after the housing ministry said last week it will start a six-month clampdown on the industry and some local governments raised the threshold for home purchases by individuals.
Poly Real Estate Group plunged 9.8 per cent to 11.01 yuan and China Fortune Land Development slumped 7.8 per cent to 23.75 yuan. China Vanke slid 7.3 per cent to 22.80 yuan.
Insurers were also among the biggest decliners on mounting concern declining equities will curb their investment gains. China Pacific Insurance Group sank 6.5 per cent to 29.77 yuan and Ping An Insurance Group Co of China fell 5.7 per cent to 55.22 yuan. China Life Insurance dropped 4.4 per cent to 21.52 yuan.

WELLINGTON Kendall Wright Vikings Jersey , July 30 (Xinhua) -- New Zealand Tuesday welcomed news that the country would be co-hosting the 2015 Cricket World Cup.
"This gives Christchurch a target to work toward, and signals its re-emergence as a strong tourist and sporting destination capable of hosting world-class events," Sport and Recreation Minister Murray McCully said in a statement Tuesday.
The International Cricket Council (ICC) announced that New Zealand would host half of all pool matches, one quarter-final and a semi-final.
Seven New Zealand cities -- Auckland, Hamilton Kirk Cousins Vikings Jersey , Napier, Wellington, Nelson, Christchurch, Dunedin -- are to host three matches each Mike Remmers Vikings Jersey , while seven Australian cities would host the remainder of the 49-match tournament from Feb. 14 to March 29, 2015. Earthquake-battered Christchurch will be hosting the opening match.
The New Zealand government will contribute 5 million NZ dollars (3.99 million U.S. dollars) to the tournament.
"This commitment will ensure the 2015 Cricket World Cup lives up to the high standards New Zealand set as a host nation during the Rugby World Cup in 2011," McCully said.
The government's Tourism New Zealand agency said it could now begin planning for the influx of cricket fans and international media.
"The ICC Cricket World Cup 2015 provides us with a major opportunity to boost exposure in key target markets and encourage travelers to visit New Zealand or add New Zealand to their Australian tour plans," Tourism New Zealand chair Kerry Prendergast said in a statement.
The Cricket World Cup is contested by the 10 full members of the ICC, which are England Brian O'Neill Vikings Jersey , Australia, Sri Lanka, Bangladesh, New Zealand, South Africa Mike Hughes Vikings Jersey , India, Pakistan, the West Indies and Zimbabwe.
Four associate and affiliated members will also compete to qualify in international matches.
Reach Out To More Clients For Your Skin Care Retail Business Now! May 19, 2013 | Author: Bernie MacRos | Posted in Business
Think of all the increased opportunities you would have if your beauty products store was more successful. A bigger beauty products retail business means bigger profits, so what are you waiting for? Look over this helpful information and start growing your business today.
Looking out for the future of your beauty products retail business is important if you want to see it succeed. Look ahead to spot any pitfalls you might run into and do everything you can to avoid them. This way you will not have to suffer needless financial loss simply because of poor planning.
Travel to grow your network. New beauty products retail business is only an airplane ride away. Accept the challenge and make a connection in another city Sheldon Richardson Jersey , state or country. Blow consumers away with items from other regions of the world in your office.
Before you can do anything you have to have a sound beauty products retail business plan put in place. Once you do you have to stay the course with it no matter what. This is necessary to prosper by helping you do what you need to without few bumps in the road.
No matter how hard you try to prevent them, mistakes will happen. If this happens, be sure to apologize to your customers and do what you can to make things right. Your customers will keep your trust and keep coming back to you.
Having a good beauty products retail business relationship online is essential for good business marketing. Use the latest tools offered by Google so you can improve your reputation online.
When getting your beauty products retail business to the point of success, always keep branding in mind. The best companies have excellent brands and other things that make them unique. Keep focused on building up your brand and then you can focus on the business part of the puzzle.
You should always make sure to give any employees you have special incentives. While everyone likes money it is also about choosing incentives that also make your employees feel appreciated. Take your best workers to dinner from time to time or give them special treats when they are doing exceptional work. Acts of appreciation tend to pay themselves back ten-fold, so invest now and reap later.
You may know a great deal about running your beauty products retail business no doubt Trevor Siemian Jersey , but sometimes a perspective from outside the realm of your influence infuses objectivity into the observation. When in need, seek the viewpoint and expert opinions because once you’re in the doldrums because of your own folly, little else can be done. Turn to professional help at the right time and keep your chance of success alive.
Stay on top of the media and what’s going on in the world. There are many topics concerning beauty products store and the economy that will affect your beauty products retail business directly. Tune into your local new channels and radio stations daily to prepare for any changes that my cause troubles within your business.
Be sure to visit your best search engine and look for intelligent nutrients harmonic shampoo if you wish to improve your understanding related to organic beauty products.
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