GOP/NATIONAL SECURITY/TARIFFS/TRUMP AS PRESIDENT: “Americans could see a 25 percent spike in the price tag on their family cars if President Donald Trump goes through with a threat to slap tariffs on imported automobiles, trucks and parts, sparking a wave of outrage from Trump’s own political allies. Acting on instructions from Trump, Commerce Secretary Wilbur Ross late Wednesday [5-23-18] launched an investigation into whether automotive imports pose a national security threat, a move that could lead to penalties boosting the cost of a $20,000 car by $5,000. With a price shock like that, the real threat would be to Americans’ financial security, business and GOP leaders said. Senate Finance Chairman Orrin Hatch (R-Utah), who worked closely with Trump to pass last year’s tax reform bill, called the new investigation ‘deeply misguided…’ It was just the latest in a series of trade moves that’s straining Trump’s relations with fellow Republicans. He’s already raised tariffs on steel and aluminum, threatened to withdraw from NAFTA if Canada and Mexico don’t agree to new terms and brought the United States to the brink of a trade war with China.”
-Doug Palmer, “Trump takes aim at the family car with new tariff threat,” Politico, May 25, 2018 5:06 am