Photo: GM
In the past few days, the first shots have been fired in what is widely considered a major trade war between the United States and China.
While financial analysts are trying to figure out what the 25 percent increase in tariff that has been imposed by both countries on certain of their opponent’s products will mean in the mid-term future, players in the industries affected have held their ground, avoiding any statements and interventions.
On the U.S. side of the fence, Chinese sourced products that have been targeted by the new regulations are exactly the ones the Asian country relies on the most for its future growth: the high-tech industry. At first glance, the U.S. stopped short of imposing new taxes on auto-related imports from China.
In response, the Chinese, who have enough domestic carmakers to last them for centuries, have imposed increased taxes on soybean imports, airplanes, chemicals and… cars.
U.S. automakers conducting business in China have not yet released any statements, waiting to see how exactly this war would mean for them. SInce Ford, Chrysler and GM all have joint ventures in the country, it would seem they are not really affected by the new tariffs.
GM is perhaps the luckiest of them all, as it makes pretty much all of its vehicles locally with partners Baojun, Jiefang and Wuling. For some reason, the company found it important to release a statement saying nothing, really, but urging for "constructive dialog."
“We support a positive trade relationship between the U.S. and China, and urge both countries to continue to engage in constructive dialogue and pursue sustainable trade policies.
"We continue to believe both countries value a vibrant auto industry and understand the interdependence between the world’s two largest automotive markets.”
On the other hand, brands that are imported into China, like Tesla, will suffer the fallout of the decisions made this week.
On the U.S. side of the fence, Chinese sourced products that have been targeted by the new regulations are exactly the ones the Asian country relies on the most for its future growth: the high-tech industry. At first glance, the U.S. stopped short of imposing new taxes on auto-related imports from China.
In response, the Chinese, who have enough domestic carmakers to last them for centuries, have imposed increased taxes on soybean imports, airplanes, chemicals and… cars.
U.S. automakers conducting business in China have not yet released any statements, waiting to see how exactly this war would mean for them. SInce Ford, Chrysler and GM all have joint ventures in the country, it would seem they are not really affected by the new tariffs.
GM is perhaps the luckiest of them all, as it makes pretty much all of its vehicles locally with partners Baojun, Jiefang and Wuling. For some reason, the company found it important to release a statement saying nothing, really, but urging for "constructive dialog."
“We support a positive trade relationship between the U.S. and China, and urge both countries to continue to engage in constructive dialogue and pursue sustainable trade policies.
"We continue to believe both countries value a vibrant auto industry and understand the interdependence between the world’s two largest automotive markets.”
On the other hand, brands that are imported into China, like Tesla, will suffer the fallout of the decisions made this week.
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