Bill Hanvey, president and CEO of the Auto Care Association, this week issued a statement following the Trump Administration’s decision to reverse its proposed tariffs on imports from Mexico.
On May 30, the White House issued a statement that the U.S. would impose a 5% tariff on all goods imported from Mexico beginning on June 10. The tariffs were then scheduled to raise 5% each month, topping out at 25% on Oct. 1 if Mexico did not address illegal immigration issues along the Southern border, according to Trump’s statement.
“The Auto Care Association applauds the Trump Administration’s reversal on its decision to impose tariffs on imports from Mexico,” said Bill Hanvey, president and CEO, Auto Care Association. “Mexico is the United States’ largest trading partner when it comes to auto parts, with more than $55 billion imported in 2017. U.S. companies benefit from having largely duty-free access to Mexico’s labor market for certain important steps along the supply chain. A new tariff would have resulted in higher prices for U.S. consumers and job losses for U.S. businesses.
“The association will continue to work with the administration and Congress on ensuring long-term, open access to U.S. trading partners like Mexico,” Hanvey’s statement concluded.