Auto Dealers Object to Steel, Aluminum Tariffs on Canada, Mexico, and the EU
Decision means higher prices will continue
Alexandria, VA — May 31, 2018 — The American International Automobile Dealers Association today expressed opposition to President Trump’s plan to proceed with a 25% tariff on aluminum and steel imports from Canada, Mexico, and the European Union starting Friday. Both metals are crucial to the production of cars and trucks sold in America today.
“Since the administration’s initial announcement earlier this year regarding steel and aluminum tariffs, prices have risen on key products. Today’s decision to proceed with imposing tariffs on Canada, Mexico, and the EU means American consumers will continue to bear the brunt of a trade war with our key economic partners,” said AIADA President and CEO Cody Lusk. “The decision to forge ahead with these steel and aluminum tariffs will adversely impact the price of consumer goods, including the millions of new vehicles Americans buy each year.”
America’s 9,600 international nameplate auto dealers, the majority of which are family-owned businesses, employ more than 577,000 Americans, resulting in a payroll of $32 billion and an additional 527,000 indirect jobs. Last year, they sold 8.4 million vehicles to American consumers—59% of total U.S. retail vehicle sales. For more on the impact of America’s international nameplate dealers on our economy visit AIADA.org/our-impact.
Established in 1970, AIADA is and continues to be the only association whose sole purpose is to represent America’s international nameplate automobile franchises that sell and service the following brands: Acura, Aston Martin, Audi, Bentley, BMW, Ferrari, Genesis, Honda, Hyundai, Infiniti, Jaguar, Kia, Land Rover, Lexus, Maserati, Mazda, Mercedes, MINI, Mitsubishi, Nissan, Porsche, Rolls Royce, Scion, Smart, Subaru, Toyota, Volkswagen, and Volvo. These retailers have a positive economic impact both nationally and in the local communities they serve, providing more than 500,000 American jobs. Visit AIADA online at www.aiada.org.
Libby Newman, NewmanL@aiada.org, 703-519-7800