• bitcoinBitcoin(BTC)$84,038.00-0.20%
  • ethereumEthereum(ETH)$2,688.660.23%
  • tetherTether(USDT)$1.000.00%
  • binancecoinBNB(BNB)$773.18-0.23%
  • rippleXRP(XRP)$1.550.52%
  • usd-coinUSDC(USDC)$1.000.00%
  • solanaSolana(SOL)$120.402.95%
  • tronTRON(TRX)$0.337085-0.39%
  • zcashZcash(ZEC)$1,529.11-2.73%
  • Figure HelocFigure Heloc(FIGR_HELOC)$1.02-0.31%
  • HyperliquidHyperliquid(HYPE)$91.71-1.51%
  • dogecoinDogecoin(DOGE)$0.0974581.73%
  • chainlinkChainlink(LINK)$14.022.33%
  • moneroMonero(XMR)$555.20-2.94%
  • whitebitWhiteBIT Coin(WBT)$83.89-0.11%
  • USDSUSDS(USDS)$1.00-0.02%
  • cardanoCardano(ADA)$0.2540261.11%
  • RainRain(RAIN)$0.011917-0.28%
  • leo-tokenLEO Token(LEO)$8.931.40%
  • stellarStellar(XLM)$0.217235-0.26%
  • bitcoin-cashBitcoin Cash(BCH)$336.610.93%
  • nearNEAR Protocol(NEAR)$4.835.41%
  • uniswapUniswap(UNI)$9.655.51%
  • litecoinLitecoin(LTC)$72.992.27%
  • CantonCanton(CC)$0.13757417.28%
  • Ethena USDeEthena USDe(USDE)$1.00-0.01%
  • avalanche-2Avalanche(AVAX)$10.683.78%
  • suiSui(SUI)$1.1512.73%
  • daiDai(DAI)$1.000.01%
  • USD1USD1(USD1)$1.000.01%
  • hedera-hashgraphHedera(HBAR)$0.0940341.70%
  • the-open-networkGram (prev. Toncoin)(GRAM)$1.462.84%
  • BittensorBittensor(TAO)$311.763.76%
  • shiba-inuShiba Inu(SHIB)$0.0000061.42%
  • crypto-com-chainCronos(CRO)$0.0654611.58%
  • Global DollarGlobal Dollar(USDG)$1.000.00%
  • MemeCoreMemeCore(M)$1.232.82%
  • paypal-usdPayPal USD(PYUSD)$1.000.00%
  • EthenaEthena(ENA)$0.27684924.44%
  • tether-goldTether Gold(XAUT)$4,280.660.10%
  • OndoOndo(ONDO)$0.54-5.50%
  • okbOKB(OKB)$121.421.46%
  • Ripple USDRipple USD(RLUSD)$1.00-0.01%
  • BitwayBitway(BTW)$0.90-13.41%
  • Circle USYCCircle USYC(USYC)$1.140.03%
  • aaveAave(AAVE)$154.036.34%
  • mantleMantle(MNT)$0.715.57%
  • BlackRock USD Institutional Digital Liquidity FundBlackRock USD Institutional Digital Liquidity Fund(BUIDL)$1.000.00%
  • Ondo US Dollar YieldOndo US Dollar Yield(USDY)$1.14-0.07%
  • Pump.funPump.fun(PUMP)$0.00453215.37%
TradePoint.io
  • Main
  • AI & Technology
  • Stock Charts
  • Market & News
  • Business
  • Finance Tips
  • Trade Tube
  • Blog
  • Shop
No Result
View All Result
TradePoint.io
No Result
View All Result

‘They could bring work back in very short order’

March 30, 2025
in Business
Reading Time: 3 mins read
A A
‘They could bring work back in very short order’
ShareShareShareShareShare

WASHINGTON — United Auto Workers president Shawn Fain said Sunday that President Trump’s looming 25% tariff on foreign-made cars could swiftly boost American manufacturing jobs.

YOU MAY ALSO LIKE

Iconic Los Angeles Starbucks closing after 30 years

TikTok reaches $100M settlement with Alabama over youth addiction claims

Fain, a prominent anti-Trump campaigner ahead of last year’s election, said that the levies could benefit workers and used remarkably similar language as the White House on how carmakers could onshore jobs.

“We have excess capacity” at manufacturing plants, Fain said, using near identical framing as the White House. “They could bring work back in very short order.”

“Tariffs are a tool in the toolbox to get these companies to do the right thing, and the intent behind it is to bring jobs back here, and, you know, invest in the American workers,” Fain said in an interview on CBS’ “Face the Nation.”

UAW President Shawn Fain said Sunday that auto tariffs could return work to America. Ron Sachs – CNP for NY Post

Trump’s stiff auto tariffs are set to take effect Wednesday and could trigger upheaval in the car industry.

Wednesday is also the advertised launch date for Trump’s 25% tariffs on other Canadian and Mexican goods and his “reciprocal” tariffs on other major trading partners such as the European Union and Japan.

About half of vehicles sold in the US are foreign-made, mostly in Mexico, Canada, Japan, South Korea and Germany.

Fain wasn’t entirely uncritical of his longtime political foe — emphasizing that he wants union membership to grow as a result of a potential influx of auto jobs.

President Trump has ordered sweeping 25% car tariffs set to take effect Wednesday. Getty Images

“It doesn’t do any good if they’re going to locate them in places and they’re not going to have the opportunity to have a union, you know. And so naturally, we have concerns,” the union boss said.

Former President Joe Biden and former Vice President Kamala Harris, Trump’s 2025 challenger, were closely aligned with the UAW — going so far as to snub non-unionized Tesla from a promotional electric vehicle showcase on the White House lawn.

Fain, pictured with former President Joe Biden, is prominent Democratic supporter. REUTERS

Trump and Fain have exchanged insults publicly, with the president calling on auto-union members to oust Fain, who on Sunday offered critical words about other Trump actions, calling him “deplorable” for moving to strip federal workers of union eligibility.

The auto tariffs were announced last week, with White House trade adviser Peter Navarro stressing that they also would apply to car parts.

Canadian and Mexican car imports will be tariffed based on the percentage of parts that are US-made. If half of its parts are American, for example, the levy would be 12.5% rather than 25%.

“Half of the roughly 16 million cars, SUVs and light trucks Americans bought in 2024 were imports,” Navarro said last week. “Of the remaining 8 million units, more than half of these cars were assembled from foreign parts. So what that means is less than 25% of the cars sold in America contain US content on average. That stops right now with the Trump auto tariffs.”

White House trade adviser Peter Navarro also has cited excess US auto manufacturing capacity. AFP via Getty Images

The idea of a 25% tariff on cars was previously studied by the US International Trade Commission, which said in a report last year that “[a] new 25% tariff on U.S. imports from outside of North America would reduce vehicle imports by 73.9%, increase average prices of vehicles in the United States by 5.0%, and increase variable profits from domestic production by 5.2%”

That report did not assess the effect of tariffing Canadian and Mexican imports, meaning the impact may be even greater.

Trump has aggressively adopted tariffs during his second term after largely using the threat of tariffs during his first term to score trade reforms from other countries.

Earlier this month, Trump slapped an additional 25% tariff on China, citing fentanyl smuggling, and in Februar,y he imposed a 25% tariff on steel and aluminum, without exceptions for major importers that previously were in effect.

Trump has teased plans for tariffs on computer chips, copper, pharmaceuticals and other products — arguing it would boost the US economy, though critics say it could fuel inflation by making goods more expensive.

Credit: Source link

ShareTweetSendSharePin

Related Posts

Iconic Los Angeles Starbucks closing after 30 years
Business

Iconic Los Angeles Starbucks closing after 30 years

September 26, 2026
TikTok reaches 0M settlement with Alabama over youth addiction claims
Business

TikTok reaches $100M settlement with Alabama over youth addiction claims

September 25, 2026
McDonald’s promises to bring back colorful PlayPlaces in bid to win over frustrated parents
Business

McDonald’s promises to bring back colorful PlayPlaces in bid to win over frustrated parents

September 25, 2026
FIFA chief Gianni Infantino hires Martin Sorrell for survival campaign: sources
Business

FIFA chief Gianni Infantino hires Martin Sorrell for survival campaign: sources

September 25, 2026
Next Post
US to revoke authorizations to foreign partners of Venezuela’s PDVSA, sources say

US to revoke authorizations to foreign partners of Venezuela's PDVSA, sources say

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result
Taking a test lap on the streets of IndyCar’s D.C. Grand Prix

Taking a test lap on the streets of IndyCar’s D.C. Grand Prix

September 25, 2026
Indonesian volcano spews ash and smoke during eruption

Indonesian volcano spews ash and smoke during eruption

September 20, 2026
Chase Slate Edge Review – An Unsecured Card for Fair Credit and Not Much Else

Chase Slate Edge Review – An Unsecured Card for Fair Credit and Not Much Else

September 21, 2026

About

Learn more

Our Services

Legal

Privacy Policy

Terms of Use

Bloggers

Learn more

Article Links

Contact

Advertise

Ask us anything

©2020- TradePoint.io - All rights reserved!

Tradepoint.io, being just a publishing and technology platform, is not a registered broker-dealer or investment adviser. So we do not provide investment advice. Rather, brokerage services are provided to clients of Tradepoint.io by independent SEC-registered broker-dealers and members of FINRA/SIPC. Every form of investing carries some risk and past performance is not a guarantee of future results. “Tradepoint.io“, “Instant Investing” and “My Trading Tools” are registered trademarks of Apperbuild, LLC.

This website is operated by Apperbuild, LLC. We have no link to any brokerage firm and we do not provide investment advice. Every information and resource we provide is solely for the education of our readers. © 2020 Apperbuild, LLC. All rights reserved.

No Result
View All Result
  • Main
  • AI & Technology
  • Stock Charts
  • Market & News
  • Business
  • Finance Tips
  • Trade Tube
  • Blog
  • Shop

© 2023 - TradePoint.io - All Rights Reserved!