On Wednesday, Senator Josh Hawley (R-Mo.) introduced legislation that would increase the tariff on automobiles from China from the current 27.5 percent to 125 percent.
At a hearing on Wednesday held by the U.S. Trade Representative (USTR) on the U.S.-Mexico-Canada Agreement (USMCA), a representative of the United Auto Workers (UAW) once again called on the administration to raise tariffs on autos and auto parts, echoing written comments submitted by the autoworkers union several weeks ago.
Following a meeting of the U.S. – E.U. Trade & Technology Council, officials had no major announcements, which could be a sign that momentum is slowing as expected in advance of the 2024 elections.
This week just under 4,800 dealerships sent a second letter to President Joe Biden, urging him to “hit the brakes” on the EPA proposal that would effectively mandate that two-thirds of new cars sold be all electric by 2032. A similar letter sent to the president in November from nearly 4000 dealership franchises did not receive a response. Both letters were spearheaded by dealer Mickey Anderson, CEO of Baxter Auto Group, through a coalition “representing the voice of the customer.” The EPA is expected to make a final ruling on the proposal in as soon as a few weeks.
Late yesterday the Federal Trade Commission (FTC) announced it would postpone enactment of a new rule regulating auto dealerships pending the outcome of a court ruling. NADA and the Texas Automobile Dealers Association petitioned the 5th U.S. Circuit Court of Appeals to review the rule, which was first proposed by the FTC in the summer of 2022 and finalized late last year, and would regulate a wide variety of dealership operations.
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