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A report from the Center for Automotive Research in Ann Arbor, Michigan, published on Friday showed its worst-case scenario of a tariff of 25 percent would cost 366,900 U.S. jobs in the auto and related industries. U.S. light duty vehicle prices would increase by $2,750 on average, including U.S.-built vehicles, reducing annual U.S. sales by 1.3 million units and forcing many consumers to the used car market, the think tank’s report said. Major automaker groups said last year the cumulative effect for the United States would be an $83 billion annual price increase and argued there was no evidence auto imports posed a national security risk.
BERLIN (Reuters) - U.S, President Donald Trump has promised European black & stainless cufflinks | uk Commission President Jean-Claude Juncker that he will not impose additional import tariffs on European cars for the time being, Juncker was quoted in a published interview as saying on Monday, A confidential U.S, Commerce Department report sent to Trump over the weekend is widely expected to clear the way for him to threaten tariffs of up to 25 percent on imported autos and auto parts by designating the imports a national security threat..
“Trump gave me his word that there won’t be any car tariffs for the time being. I view this commitment as something you can rely on,” Juncker told the German daily Stuttgarter Zeitung in an interview. He did not specify when Trump made the promise. Juncker added if Trump imposed tariffs on European cars nonetheless, the EU would react immediately and not feel obliged to stick to its promise to buy more soybeans and liquefied gas from the United States. The contents of the U.S. report are expected to remain classified while Trump considers its recommendations, leaving the industry and major car exporters such as Germany, Japan and South Korea in the dark about its consequences.
Auto industry officials said they expect the report to recommend at black & stainless cufflinks | uk least some tariffs so that the administration can use the findings of the inquiry as negotiating leverage during negotiations this year with Japan and the EU, A European Commission spokesman said on Monday the EU wanted to improve trade relations with the United States but would react swiftly if Trump decided to hit EU car imports with tariffs, “The European Union will stick to its word as long as the U.S, does the same,” spokesman Margaritis Schinas said..
Any U.S. tariffs on European cars would hit Germany’s important automobile industry particularly hard. The United States are Germany’s most important single export destination after the bloc of EU countries. The BDI industry association called on the U.S. administration to provide more clarity and publish the findings of the national security report swiftly. “The U.S. Department of Commerce should now publish its report on automobile imports quickly, so as not to further increase business uncertainty for companies,” BDI President Dieter Kempf said on Monday.
BRUSSELS (Reuters) - United States tariffs on imports of European cars could mean that Europe would buy less soya beans and liquid gas from the U.S., the head of the European Commission Jean-Claude Juncker said on Monday, Juncker, whose institution is in charge of trade talks for the whole 28-nation European Union, told the Stuttgarter Zeitung paper in an interview that he had black & stainless cufflinks | uk a deal with U.S, President Donald Trump that there would be no such tariffs for now, “Trump has given me his word that there will be no car tariffs for the time being, I believe him, However, should he renege on that commitment, we will no longer feel bound by our commitments to buy more US soya and liquid gas, However, I would very much regret that,” Juncker told the paper..
NEW YORK (Reuters) - Papa John’s International Inc founder John Schnatter welcomes hedge fund Starboard Value LP’s investment in the pizza restaurant chain, his lawyer said, even as he filed an updated lawsuit on Monday against the company. Papa John’s this month unveiled Starboard’s investment of up to $250 million and named the fund’s chief executive, Jeff Smith, as its chairman. Schnatter, who according to Refinitiv data owns about 30 percent of the company he founded in his father’s bar, served as chairman until last summer. He stepped down after reports he had used a racial slur on a media training conference call, a decision he said he regrets. He had stepped down as chief executive in December 2017.
Schnatter, who is still a member of Papa John’s board of directors, has been trying to gain more control of the chain, With the Starboard investment, the number of directors jumped to nine from six, diluting his influence, “Mr, Schnatter welcomes the comments that have come from Mr, Smith and the company in the black & stainless cufflinks | uk past few days,” Schnatter’s attorney Garland Kelley said in a statement. “Today’s amended lawsuit reflects support for Mr, Smith and his plans to invigorate the company for the benefit of all shareholders.”..
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