Tariffs

One important reason why the US has a trillion-dollar trade deficit is the auto industry In 2023 the US imported 1.5 million cars from Japan and exported 16,000 cars to Japan. In 2023 the US imported 692,000 cars from Europe and exported 116,000 cars to Europe. Much of this has to do with import taxes on US cars by both Europe and Japan. This has been going on for many decades. The US believes in free and fair trade but has been subjected to free and unfair trade. This will end next week as the US will start imposing import taxes. These taxes will not be on foreign cars made in the US. The goal is to have more cars that are sold in the US be produced in the US. A preferred response is to have Germany and Japan lower their import taxes to match the US. Once they are matched all import taxes can be dropped.