President Donald Trump sits with Maria Bartiromo on “Sunday Morning Futures”.
The president of the United Auto Workers (UAW) Union said in an interview on Sunday that the president Donald Trump Prices in Canada and Mexico
UAW president Shawn Fain, appeared on “This week” by ABC News And defended the controversial prices, which caused reprisals by Canada and Mexico against American exports and aroused fears of an enlarging trade war.
“We are in crisis in this country,” said Fain. He added that the international trade system is “broken” and that the United States is in a “sorting situation” while explaining that prices “are not the final solution” but are “a huge factor in solving this problem”.
“The prices are an attempt to stop the bleeding of the hemorrhage of jobs in America in the past 33 years,” said Fain while he was trying to blame the North American Free Trade Act (NAFTA) for provoking “millions of jobs” to leave the United States of the United States by the American-mexico-canota (USMCA) agreement (USMCA) 2019.
Car prices could increase by $ 12,000 due to Trump’s latest prices
UAW president Shawn Fain defended President Donald Trump’s prices. (Photo of Scott Olson / Getty Images / Getty Images)
Trump delayed 25% prices on automotive imports from Canada and Mexico for another month until April 2. At that time, Trump’s reciprocal tariff regime should also take effect and increase American prices to correspond to those that foreign business partners impose on American exports.
As part of ALENA and USMCA, the North American automotive industry is deeply linked between the United States, Canada and Mexico, as car manufacturers have distributed production facilities in the three countries to promote efficiency.
Late payments of cars reach the highest level in more than 30 years
The North American automotive industry has installations in the United States, Mexico and Canada which could be affected by prices. (Ty Wright / Bloomberg via Getty Images / Getty Images)
Prices are taxes imposed on imported goods. As applied to the North American car supply chain, prices could considerably increase costs for car manufacturers as well as prices paid by consumers.
Some automotive parts cross the American border several times during the production process – which would cause a price each time it crosses if Trump’s prices were implemented.
An analysis of Anderson’s economic group revealed that the 25% automotive prices would increase the prices of thousands of dollars.
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Public crossing vehicles would see prices increase at least $ 4,000, while vans would increase $ 8,000 and large SUVs $ 9,000. Electric vehicles (EV) would see the largest cost increases, increasing more than $ 12,000.
