According to foreign media reports, people familiar with the matter said that Canada, the European Union, Japan, Mexico and South Korea will hold talks in Geneva to discuss how to deal with the threat of US President Donald Trump on tariffs on imported cars and parts.
The Trump administration has been severely criticized by automakers, foreign governments and other institutions for considering tariffs on imported cars up to 25%. Critics warn that levying auto tariffs will drive up auto costs, car sales and the world. Employment in the automotive industry has serious implications.
Sources said that a number of major automakers have been discussing concerns about Trump's tariffs in the near future and may have a joint response to the "232 investigation" implemented by the Trump administration. The "232" investigation was announced on May 23 to investigate whether imported cars would pose a threat to US national security. The survey will be completed in a few weeks. A similar investigation conducted by the US government last year led to a 25% and 10% import tariff on steel and aluminum, respectively.
Although the US government began to impose tariffs on imports of steel and aluminum in March this year, Canada, the European Union and Mexico have taken countermeasures, but it is still unclear what measures the countries and organizations will take on Trump’s automobile tariffs. It is a possibility that the World Trade Organization Conference (WTO) will fight against the United States together.
According to a Canadian official and a Mexican official, representatives of various countries will hold talks in Geneva on July 31, local time, to listen to each other's opinions and suggestions. A Canadian government official said, "The meeting is aimed at convening major automakers to discuss the US government's 232 investigation of cars and parts."
The Mexican Ministry of Economic Affairs confirmed that Vice Minister of Economy Juan Carlos Baker will travel to Geneva to attend several meetings, including meeting with WTO Director-General Roberto Azevedo. The Canadian Foreign Ministry declined to comment.
According to the WTO official website, Azevedo will meet with Mexican Deputy Minister of Economics Baker on July 30, and on July 31, he will meet with Canadian Vice Minister of Trade Timothy Sargent and Japanese Deputy Foreign Minister Kazuyuki Yamazaki. The Deputy Minister of Mexico stated that the meeting was related to Trump’s tariffs.
On July 25, local time, Trump agreed to temporarily suspend the idea of ​​imposing import tariffs on EU cars to reduce trade barriers in US exports and ease concerns about trade wars. However, Trump's final decision will not be known until the national security investigation is completed in the next few months.
Although the trade negotiations between the United States and the European Union have temporarily made breakthroughs, bringing a little hope to automakers, the planned meeting marks the worst plan for auto producing countries. If Trump's auto tariffs are finally implemented, it will cause serious damage to automakers such as Hyundai Motor, Toyota Motor of Japan and BMW of Germany, and will affect the global factories of GM, Ford and Fiat Chrysler.
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