Good: White House likely to hold off on auto tariffs for now
Tariffs are taxes. We are taxed enough already. (Remember that?) This country should have more fine German and Japanese vehicles on the road not fewer. We have still not forgotten the auto bailouts of 2009. Plus Hondas are just fantatsic cars. Why make them $7000 more expensive? Consider that we are car enthusiasts at The Sorrentino, which it say that we like cars that are fast, well engineered, and usually low to the ground, and we have to say that the Honda Odyssey minivan is one of the best vehicles we've ever owned. And we've owned many cars. For the record the worst vehicle we ever owned was a Peugeot 504 station wagon. We will shed no tears if French cars never come back to the USA.
The president has threatened to slap 25 percent levies on imported autos, light trucks, vans, SUVs and parts. Automakers including big U.S. names like Ford and GM worry that the tariffs will increase costs by nearly $7,000 for imports and more than $2,000 even for domestically produced vehicles.
Shares of most automakers moved higher in Wednesday morning trade.
Let's hope Trump rethinks this one.