The chief strategist of chief investment Marta Norton discusses the impact of the price threat of President Donald Trump on the automotive industry on the “winner”.
President Donald Trump announced its intention to work with republican members of the congress to reduce “spectacularly” taxes for individuals and businesses.
Trump spoke at the top of the priority Saudi investment of the FII in Miami, Florida, On Wednesday, when he announced his plans for the “largest tax discounts in American history”.
“We will considerably reduce taxes for families and for workers and for companies, in particular no tax on advice, and, hopefully, without social security tax and without tax on overtime,” -It declared.
The president has exposed his vision of tax reductions, which includes the possibility of spending 100% of the construction of a new factory in the United States and reducing taxes for oil and gas producers.
Trump says that he will introduce 25% of prices on cars, pharmaceutical products and flea
West Palm Beach, Florida – November 06: Presidential Republican candidate, former American president Donald Trump arrives to speak during an electoral evening event at the Palm Beach Convention Center on November 06, 2024, in West Palm Beach, Florida . America (Chip Somodevilla / Getty Images / Getty Images)
Trump’s plan also calls for the implementation of prices on cars, semiconductors, pharmaceutical products and wood, among others, that the president said that he will announce next month.
“We will bring our businesses back. If they do not make their product in America, then very simply, they have to pay a price,” he said. “But if they make their product in America, then they don’t have to pay a price, which will bring … everything will bring billions of dollars to our treasure or it means that there will be no Taxes … “
The comments come a day after Trump said that he was planning to impose car rates “in the 25%” district and rates similar to semiconductors and pharmaceutical imports.
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Cost of health care, prescription pills on US dollars (Istock / Istock)
He said on Friday that car rates could arrive on April 2, the day after an examination by his administration of options for a range of import taxes should be completed.
The president has long criticized what he calls the unfair treatment of American automobile exports on foreign markets.
For example, the European Union receives a 10% tariff on vehicle imports which is four times the American rate of passenger cars of 2.5%. However, the United States receives a 25% rate on country vans other than Mexico and Canada, a policy that helps maintain vans a profitable segment for American car manufacturers.
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Toledo, Oh – May 7: A worker manages a suspension for a 2014 Jeep Cherokee at the assembly plant at Chrysler Toledo North Jeep on May 7, 2014 in Toledo, Ohio. Fiat Chrysler Automobiles announced that it wanted to transform the Jeep into a global brand as part of an AGGR (Images Bill Pugliano / Getty / Getty Images)
Trump on Tuesday told journalists from his Mar-A-Lago field in Florida who priced pharmaceutical products and Semiconductive chips would also start “25% or more” and increase considerably during the year.
Trump did not specify an announcement date of these tasks and said that he wanted to give drugs a little time and flea manufacturers to create American factories so that they can avoid prices. He also said that he expects some of the world’s largest companies to announce new investments in the United States over the next two weeks, although he has provided any other details.
Since taking office on January 20, Trump has imposed a 10% price China imports In addition to existing prices because of its role in fentanyl traffic.
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Trump has also announced 25% of fares on Mexico and non -energy imports from Canada, while taxing Canadian oil and gas at a rate of 10%. He delayed these prices until at least in early March after the two countries announced border security measures.
Eric Revell by Fox Business contributed to this report.
