The Alliance of Automobile Manufacturers claims that this will raise their price by an average of $6,000.
The U.S. President also said the new trade deal with Canada and Mexico would make it “very uncomfortable” for GM to build vehicles outside the U.S..
China will revert its 40 percent tariff on US-made vehicles back to 15 percent, as part of the 90-day truce in the trade war with USA.
Shares in carmakers increased following the news of potential tariffs cuts in China.
US government officials now admit that there’s no deal yet with China .
USA and China have agreed to a 90-day ceasefire while they negotiate a new trade deal .
The move was originally intended to punish General Motors, but it wouldn’t have much effect on the automaker.
The POTUS got very angry over the plant closures and openly threatened General Motors.
President Trump slammed GM for idling four US plants while keeping others open in China and Mexico.
Trump will await the findings of a report about imports’ impact on national security before making a decision.
Trump’s rollback stipulates a corporate average fuel economy rating of 37 mpg – a far cry from Obama’s 54.5 mpg .
The General wants the adoption of California’s strict rules, while the Administration intends to introduce more lax standards.