New tweet from the President
"The reason that the small truck business in the U.S. is such a go to favorite is that, for many years, Tariffs of 25% have been put on small trucks coming into our country. It is called the 'chicken tax.' If we did that with cars coming in, many more cars would be built here...and G.M. would not be closing their plants in Ohio, Michigan & Maryland. Get smart Congress. Also, the countries that send us cars have taken advantage of the U.S. for decades. The President has great power on this issue - Because of the G.M. event, it is being studied now!"
Right, if we did that.
There was a report in the German press yesterday that Trump may announce 25% tariffs on all cars imported from outside North America as soon as next week.
This tweet certainly adds credence to the idea.
If it happens and especially if it happens at the same time as more China tariffs, then markets are going to have a fit.
