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The Auto Care Association issued a member alert yesterday to announced that the Trump administration announced that the U.S. will impose a 10% tariff effective Sept. 1, 2019, on imports from China included on List 4 of the Section 301 investigation. Valued at approximately $300 billion, the List 4 investigation was previously placed on hold following President Trump and Chinese President Xi’s meeting on the sidelines of the G20 summit in June 2019. |
The bill aims to reinstate tax incentives for R&D and small business investments, along with other measures.
The U.S. House of Representatives passed H.R. 7024, the Tax Relief for American Families and Workers Act of 2024, with bipartisan support. The bill, now with the Senate's Finance Committee, aims to reinstate tax incentives for research and development (R&D) and small business investments, along with other measures, according to SEMA.
Representatives from MANN+HUMMEL’s North American aftermarket brands recently visited Capitol Hill to express their support for H.R. 906.
This measure contains the restoration of one year deductibility of research and development expenses, a key legislative priority for the association.
The Tax Relief for American Families and Workers Act of 2024 benefits specialty automotive aftermarket businesses, according to SEMA.
The Automotive Service Association says the legislation is beneficial for independent automotive repair businesses.
With cumulative deliveries nearing 10,000 units since its launch, XPeng remains the top-selling all-electric MPV in China, the company said.
Glick discusses whether trade issues, particularly with China, will be decisive in the upcoming election, among other topics.
Bill Russo offers predictions for 2024 and beyond for the China automotive industry and its key players, among other interview topics.
“Congress must restore this tax provision to enhance U.S. competitiveness, job creation and innovation as soon as possible,” said Ann Wilson, MEMA’s executive vice president of government affairs.
