Washington D.C. – The National Foreign Trade Council (NFTC) today submitted comments to the Department of Commerce for the Section 232 Investigation into Imports of Autos and Automotive Parts. Following submission of the comments, NFTC President Rufus Yerxa issued the following statement:
“Today NFTC joined the U.S. auto industry in opposing new tariff barriers on autos and auto parts under Section 232 because such action will cause greater harm than good to America’s auto industry, which is now the world’s most competitive and dynamic producer.
“U.S. auto manufacturing is booming, and we are growing production, sales and exports at an impressive rate. New tariffs on autos and parts, especially on top of the already-damaging steel and aluminum tariffs, will drastically raise production costs for our auto companies, who will have to pass those costs on to consumers. These tariffs will also make it almost impossible for U.S. manufactures to sell their cars abroad in the face of foreign tariff retaliation. We exported 2 million autos last year, and we can grow that number if our government concentrates on opening foreign markets instead of raising barriers and costs here at home.”
“Just this week I had the chance to see U.S. auto manufacturing at work at Toyota’s plant in Princeton, Indiana,” Yerxa continued. “During this visit, I saw a right-hand drive SUV roll of the line, ready for export to Australia. I hope the Administration will concentrate its negotiating energies on how to increase those export opportunities. More than 95% of the world’s consumers live abroad and we need open world trade to reach those consumers in order to grow our businesses and produce more jobs for American workers. That’s where future economic success lies, not in raising new barriers.”
To read the full comments, click here.
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