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House Passes TikTok Bill in Bipartisan Vote; Scrutiny on China Ratchets Up in Washington This week, in an increasingly rare bipartisan vote of 352-65, the U.S. House of Representatives passed legislation that would ban the TikTok application in the U.S. unless it is sold by ByteDance, it’s Chinese parent company, within six months. Though the legislation’s fate is less certain in the U.S. Senate, the vote is the latest indication that lawmakers on both side of the aisle are concerned about Chinese owned companies and products proliferating in the U.S. During a panel discussion this week, Governor Matt Blunt, President of the American Automotive Policy Council, which represents the Detroit automakers, said that the existing 27.5% tariff on Chinese cars should remain in place, but stopped short of advocating for additional tariffs. Blunt was also confident that Chinese cars would be unable to qualify under the U.S.-Mexico-Canada Agreement (USMCA)’s strict rules of origin for tariff-free import into the U.S. from Mexico. In just the last few weeks, four bills related to Chinese vehicles were introduced in the U.S. Senate including the Closing Auto Tariffs Loopholes Act, the Strengthening Tariffs on Chinese Autos Act, the American Subsidies for American Autos Act, and the Protecting American Autoworkers from China Act.
TAKE ACTION Late last year, the House of Representatives passed the Choice in Automobile Retail Sales (CARS) Act, which would permanently prohibit the EPA from finalizing its proposed emissions rule for model years 2027 and later. Dealers are urged to contact their Senators and ask that the Senate follow suit and pass the CARS Act TODAY.
Quote of the Week “We don't see [Chinese vehicles] as a USMCA or Mexico-specific problem. It's really a larger global challenge.” -Governor Matt Blunt, President, American Automotive Policy Council (Politico) ICYMI
In case you missed it, another AIADA AutoTalk webinar is coming up!
Interest Rate Market Update Tuesday, March 26 – 2:00 p.m. ET Join Bank of America expert Jacob Lerner - BofA Securities, as he discusses: · The challenging and ever-changing interest rate market and macroeconomic environment · Managing and minimizing risk · Dealer group trends
Friday Feel Good Here is just one recent example of how dealers are doing good in their communities: Joe and Laura Street of Street Auto Group in Amarillo, Texas made a $2.5 million donation to West Texas A&M University, establishing the now Laura and Joe Street School of Nursing in WTAMU's College Nursing and Health Sciences. Read more here. We want to hear more about how you are supporting your local community – tweet us at @AIADA_News and use the hashtag #DealersDoGood. |
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