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© Click For Restrictions - https://agency.reuters.com/en/copyright.htmlToyota, other automakers says Trump's Mexico tariffs would cost billions
By Nick Carey DETROIT©2024 GPlusMedia Inc.
32 Comments
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Belrick
Good... time to put those billions of dollars in profit, to good use!
happyhere
@belrick
Did you read the article? US consumers will pay several thousand dollars extra for each car they buy. That is what you call "profit"? I call it a tax. Ditto for all the other Trump tarrifs.
minello7
Trumps speech with May in the UK yesterday, Trump was asked by a reporter about the tariffs, he was adamant about the tariffs and even said if it reached 25% maybe the manufacturers will return to the US. Only one problem with that scenario , the US doesn't have the workforce at the moment, employers are struggling to get workers. So with Trump and his crazy immigrant policies, banning all immigrants at the southern border, were will the orange buffoon find the workforce to run those imaginary returning companies to the US. His rhetoric always quotes how many great US companies have returned to the US, unfortunately like everything else that emits from his mouth, everything is minus the facts to back up his insane rambling rhetorical episodes. Tariffs aren't working with the Chinese and I doubt they'll work with the Mexicans.
Arrrgh-Type
Building factories can cost billions of dollars and take years of preparation and planning. As we've seen, American economic policy can now pivot instantly on a single tweet. On top of that, the immigration "target" (if we can even call it that) is completely vague and arbitrary. Trump (and assumedly Stephen Miller) will just decide one day whether or not Mexico has done enough to their liking to reduce the tariff.
How can any company reasonably plan to move production in this kind of situation? Businesses want stability, not uncertainty. But from the President there's no strategy, only chaos.
drlucifer
I hope the mexicans don't comply and Dumpf goes ahead with his threat and raises taxes to 25% and when his blind and deaf supporters are hit hard they might come to their senses and vote him out of office.
cla68
If Toyota doesn’t want to pay the tariffs, they can move their factory to the US and employ Americans, or put pressure on Mexico to stop the illegal flow, or help pay for the Wall.
JeffLee
Making cars, including US brands, right across the border - where everything is cheap and people are poor -- and then shipping them into the US is, let's face it, a globalization scam. 70% of US GdP comes from domestic consumption, so having these cars built by properly paid US workers - who would spend their earnings on the local economy - would be better for the US economy at the end of the day.
Until then, the US govt is earning lots of tax revenue, which can be used to fund US healthcare, schools or even mass transit.
Take note that Mexicans are made to work the longest hours than anyone in the OECD, and get paid peanuts. That's globalization for you - work harder and harder, get less and less.
serendipitous1
It's all a bit too complicated for Trump and his supporters to understand.
BlackFlagCitizen
....and no, Mr. Trump, Mexico won't be paying a dime for the tariff, the American people will.
Bintaro
Trump didn't win his first trade war, but is ready to start a second one. Not bright at all.
No wonder the stock market is crashing. Again.
drlucifer
It is normal that companies will want to produce where labor cost and sell for higher profits in markets with higher purchasing power. In a competitive market that is the only way to stay competitive.
What governments should be doing is taxing companies that produce outside more than those that do domestically.
Not only mexico that pay is low, Japan is also low considering its economic power.
It is animal farm.
kohakuebisu
GM used to say that providing healthcare to their American workers cost $2000 a car. Healthcare bills continue to be the biggest cause of personal bankrupcy in the US. Not gambling or subprime loans.
Of course, it is much easier to demonize other countries than deal with domestic problems or confront powerful domestic lobbies.
Alex Einz
who cares how much it costs to automakers.. they can cut their executive bonuses and still profit.
make it a law asap.
Deadforgood
You think foreign countries are gonna make new laws to help American citizens pay less for their cars? I don't think so...
rlperez@hotmail.com.au
Trump First, to heel with the rest. Make Trump great (again?).
Mirai Hayashi
45 = worst EVER
Dango bong
please stop being moronic. its obvious this is a negotiation ploy because mexico is not making efforts to curb illegal alien birder crossing. mexico will get into their place soon there will be no tariffs my goodness chicken little syndrome all over makes me laugh
even if there were tariffs what are we going to lose in a trade war with mexico? avocados?
Alex Einz
Dear deadforgood, I couldnt care less about American citizens or their cars cost. Use a bicycle if you cant afford a car, quite easy and healthier.
I only care about cutting pay to the fat cats at the top , because these are global , and cutting US funds from the rest of the world because everyone wins from less US influence.
HBJ
Q. What happens when people who aren’t good at business make decisions about issues they don’t understand, and then try and defend their position with arguments that don’t make sense?
A. You get a complete and utter mess.
wtfjapan
"A prolonged period of tariffs on Mexican imports would likely push Mexico into recession and could also threaten a recession in the United States," LMC said.
Mexico goes into recession thousands lose their jobs and fall into poverty where do you think theyll try and go then! Or the turn to crime like drug smuggling. A bad Mexican economy is bad for the US on many levels.
I only care about cutting pay to the fat cats at the top
Trumps golfing vacations have cost the US taxpayer about $102 million much of that at his MarLargo resort
who do you think profited from that!? Trumps security for the first 3 yrs has cost more than Obamas entire 8yrs
https://www.newsweek.com/trump-golf-102-million-report-1432550
Jonathan Prin
Even if not a complex/clever threat, it is just there to force Mexico to comply. It is not intended to happen except if Mexico politicians are suicidal.
Alex Einz
wtfjapan whats wrong with enjoying golf if he can afford it? fact is he was elected, hence people are gladly paying for his golf, just like Japanese happy to pay for Abe's ... besides , (sorry to assume you american ) if you dont like it.. elect someone less expensive next time.
smithinjapan
Pardon me while I feel no sympathy. Perhaps they ought to bring their concerns to Trump’s lapdog, Abe.
wtfjapan
wtfjapan whats wrong with enjoying golf if he can afford it?
but hes not affording it its the taxpayer whos paying for it , the taxpayer pay for Trump using Marlago for his golf carts, all the time hes spends on his golf trips it the taxpayer whos paying for he and he profits from it, doesn't cost him anything. You see Trump is one of those fatcats you so despise, so does he get a free pass!?
Serrano
The illegals are costing us more billions.
Alex Einz
Trump is purely your fat cat so.. the more misery he can bring to US the better ! Well done on the excuses of Republicans starting wars with Obama just approving innocents bombing for 8years... having a laugh arent you
wtfjapan
Trump is purely your fat cat so.
hes not my fatcat im not even AMerican, but the decsions he makes effect AMericans and many people all over the world, meanwhile bombings and civillians are still getting killed around the world by AMerican soldiers and there all on Trumps watch also.
wtfjapan
The illegals are costing us more billions.
Trump has cost the US defict another $2Trillion and growing , Trump wants to add another 25billion for a useless wall, illegals would never even come close to what Trump has wasted so far
Mike I
Funny, of the dozen comments I read none of them talk about the illegal immigration. Stay on topic, guys.
Serrano
Trump wants to add another 25billion for a useless wall,
$25B is a drop in the bucket compared to what we give to other countries who use some of the money to secure their own borders. And Border Patrol disagrees that a wall is useless. I'll take their word and common sense over yours.
vinarius@pm.catv.ne.jp
If Toyota think so, pls get abe to fight for yr company.
Ryder
So many unemployed Trump haters have already forgotten the 8 year recession where the labor participation rate was the lowest since 1935. Most Americans LIKE to work and are very happy about the amazing Trump economy. Now that wages are rising, people are streaming back into the workforce. We don't need cheap Mexican labor, and the same people who don't want border security are the ones whining about the tariffs.
Don't like them? get that wall built.