While the Trump administration’s tariffs on imported Chinese goods haven’t had an impact on AutoZone’s bottom line, customers can expect to pay higher prices for auto parts as the trade war drags on.
The announcement came in response to the Trump Administration’s decision to impose tariffs on USTR’s Section 301 List 4 products, the Auto Care Association says.
AutoZone CEO Bill Rhodes said it’s “too early for us to know the implications” of the tariff increase on the $200 billion worth of Chinese goods.
Auto Care Association Opposes Trump Administration’s Proposal to Increase Tariffs on Chinese Imports
“While the Auto Care Association supports the Trump administration’s efforts to address China’s unfair trade practices and is encouraged by recent progress made through trade talks, we oppose the use of tariffs as a negotiating strategy,” Auto Care Association President and CEO Bill Hanvey wrote.
Motor & Equipment Manufacturers Association Taps Bill Long to Lead Organization During Critical Time
The MEMA board of directors selected Long after a national search conducted by Egon Zehnder to replace former MEMA President and CEO Steve Handschuh, who retired in December.
Rusty Bishop, CEO of Federated Auto Parts, talks about the program group’s plans for 2019.
While the majority of automotive executives believe the United States-Mexico-Canada Agreement (USMCA) will have a positive impact on their companies in the long run, many of them also believe the newly negotiated trade pact will increase their production costs in the short term.
Rhodes: “With the continued aging of the car population and recently lower gas prices at the pump, these are contributing to our optimism regarding 2019 for both DIY and commercial.”
Last week, the USTR finalized the third Section 301 list of $200 billion in Chinese imports that would be subject to additional tariffs of 10 percent, effective Sept. 24.
During his keynote address, Rove will focus on the global impact of President Trump’s imposed and proposed tariffs, as well as how tariffs potentially levied by foreign countries may impact U.S. businesses.