NEWS RELEASES
NADA Expresses Concerns On Auto Tariffs Affecting The Economy
Editor's Note: This news item was retrieved and first published through the National Automobile Dealers Association's website.
NADA President and CEO Peter Welch recently stood before the US Department of Commerce to recommend “genuine trade concerns” in place of auto tariffs that would only hurt American consumers and small businesses. Welch announced the findings of a new study by the Center for Automotive Research (CAR) showing dramatic increases in vehicle prices. CAR found that under a 25% tariff on all imports and parts, “consumers would see the price of the typical vehicle sold in the United States rise by $4,400.
According to a testimony by NADA President and CEO Peter Welch, “NADA recognizes the importance to the United States of leveling the trade playing field; eliminating unfair trade practices; and keeping America’s automotive industry strong.” Welch asked the Administration to “fully and carefully consider not only the new study we are submitting with my testimony, but all the data and analysis provided to the Department during this investigation.” “New tariffs or quotas would also reduce competition and consumer choice; increase the cost of used vehicles; and raise the cost of getting vehicles serviced and repaired,” Welch added. “As a nation, we can and should work together to address genuine trade concerns, without hurting American consumers and small businesses.”
For a full report on the CAR study and how the tariff could affect the sales of vehicles and more, visit NADA's website.