Largest U.S. business group attacks Trump on tariffs

Jean Claude Juncker speaks at press conference

Jean Claude Juncker speaks at press conference

The European Union warned the Trump administration that tariffs on imported cars on national security grounds would be illegal. The comments were sent to the US Department of Commerce on Friday and published on Monday. The EU has targeted $3.2 billion in American goods exported to the 28-member bloc, including bourbon and Harley Davidson motorcycles.

"The domestic manufacture of automobiles has no apparent correlation with US national security", BMW wrote.

On June 29, the Auto Care Association urged the Trump administration to consider the severity of unintended consequences that may ensue by imposing tariffs on imported autos and auto parts, including the negative impact it would have on not only both the USA automotive industry and the jobs created by these imports, but also the US economy at large.

A year ago the European Union exported $43.6 billion worth of cars to the United States.

"New tariffs on steel, aluminum, and Chinese imports, as well as the potential for additional tariffs on autos and auto parts, have pushed us to the brink of a global trade war", the U.S. Chamber of Commerce, the largest business group in the country, said in a new study.

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The commission said "up to $294bn (£223bn) of U.S. exports. could be subject to countermeasures" that would be considered by the European Union and other trading partners, which amounts to nearly a fifth of the total value of USA exports in 2017.

Generally, they say tariffs help create a level-playing field for US manufacturers.

The EU letter suggested new tariffs could trigger a loss of $14 billion to the US economy.

The bloc argues that for some goods, such as trucks, USA import duties are higher.

Now that they have their tax cut safely in hand, the business community has apparently gotten fed up with Donald Trump.

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On Friday, the Canadian government announced retaliatory tariffs on United States imports, including steel, aluminium and certain consumer goods worth 16.6 billion Canadian dollars, and also unveiled a 2 billion Canadian dollar aid for supporting workers in its steel, aluminium and manufacturing sectors, effective July 1.

"Used wisely, the threat of tariffs can be a tool to address abuses and unfair practices from cheating trading partners", he said.

U.S. tariffs on $US34 billion ($46.3 billion) worth of Chinese goods come into effect on Friday with a big risk of more tit for tat tariffs from China. "We will not escalate, and we will not back down", Freeland said. He noted that European carmakers create over half a million jobs in the U.S.

Chamber of Commerce found that tariffs imposed on China, the European Union, Mexico and Canada would threaten $3 billion in S.C. exports, including passenger vehicles, steel products and iron products.

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