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Trump's auto tariff talk makes you wonder if there are any capitalists in the White House

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If members of Congress had the courage of their convictions, they would take back some of their constitutional authority over tariffs from the White House.
President Trump made a great show Friday of declaring that imported automobiles are a threat to national security, buttressing his argument in favor of tariffs on global auto imports. Happily, he put off deciding whether to pull that trigger for at least six months.
The escalating trade war with China is already threatening to hit an increasing percentage of U. S. consumers with higher costs, as higher tariffs are applied to a growing number of goods. But a hefty tariff on cars would raise the ante on the consumer pain (and political blowback): More than 15,000 people across the country buy imported vehicles each day — about a third of the roughly 17 million cars and light trucks sold each year are assembled in foreign factories, according to research by Frank DuBois of American University. And even domestic manufacturers import at least a third of their components, DuBois found.
Trump has been public for some time about his desire to impose auto tariffs as a way to gain leverage in trade negotiations with the European Union (and Germany in particular). The gears started turning last year when he ordered a study by his tariff-happy Commerce Department on the damage imports were causing domestic car makers. But after the department submitted its report privately in February, Trump sat on it for three months, raising hope that he was listening to the howls of protest from industry, the business community and Congress.
That’s right — U. S. automakers decided they are not asking for Trump for this “help.” That’s because they have global supply chains and global markets, so they would be hurt not just by U.

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