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World car powers are meeting to discuss Mr Trump's car tariffs in a bid to prepare for the worst
Canada, the European Union, Japan, Mexico and South Korea will meet in Geneva to discuss how to respond to US President Donald Trump's threat to impose tariffs on imported cars and parts, foreign media reported, citing people familiar with the matter.
The trump administration has come under heavy criticism from automakers, foreign governments and others for considering tariffs of up to 25 percent on imported cars, with critics warning that the tariffs would drive up the cost of cars and have a serious impact on sales and jobs in the global auto industry.
A number of major auto makers have been discussing concerns about tariffs on trump's cars and a possible joint response to the trump administration's "232 investigation," sources said.The "232" investigation was announced on May 23 to investigate whether imported cars pose a national security threat to the United States.The survey will be completed in a few weeks.A similar investigation last year led to tariffs of 25 per cent on steel and 10 per cent on aluminium.
Although in March this year the American government started to levy customs duties on imported steel and aluminium, Canada, the European Union and Mexico adopted countermeasures, but it is unclear whether the above countries and organizations to trump's car tariff measures, at the world trade organization (WTO) conference together against the United States or a possibility.
Delegates will meet in Geneva on July 31 to listen to each other's views and Suggestions, according to a Canadian and Mexican official."The purpose of this meeting is to bring together the major automobile manufacturers to discuss the 232 U.S. government investigation into automobiles and parts," the Canadian government official said.
Mexico's economy ministry confirmed that Juan Carlos Baker, deputy economy minister, will travel to Geneva for meetings on several topics, including a meeting with WTO director-general Roberto Azevedo.Canada's foreign ministry declined to comment.
According to the WTO's website, Azevedo will meet with Mexico's deputy minister of economy, Baker, on July 30, and with Canadian trade minister Timothy Sargent and Japanese deputy foreign minister Kazuyuki Yamazaki on July 31.Mexico's deputy minister said the meeting was related to trump's car tariffs.
Trump on July 25 agreed to temporarily shelve the idea of imposing import tariffs on eu cars to reduce barriers to us exports, easing fears of a trade war.Mr. Trump's final decision, however, will not be known until a national security investigation is completed in the coming months.
While a tentative breakthrough in trade talks between the United States and the European Union has given carmakers a glimmer of hope, the planned meeting is a sign that big car makers are preparing for the worst.If eventually implemented, Mr Trump's car tariffs would deal a severe blow to carmakers such as hyundai of South Korea, Toyota of Japan and BMW of Germany, as well as to the global factories of general motors, ford and fiat Chrysler of the us.