Mary Barra Is Skeptical of Border Taxes
General Motors, along with most of America’s automakers, is working hard to play nice with the new presidential administration. That’s not surprising, since no matter what their individual views on the President himself are, Mr. Trump and his people will be in charge of the government for at least the next four years. While the auto industry has cheered some measures taken by the new government, like steps toward rolling back emissions requirements for new cars, there is one bit of campaign rhetoric they are putting their foot down on. That would be the idea of dissolving the North American Free Trade Agreement (NAFTA) or the addition of border adjusted taxes.
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When at the Economic Club of Washington DC, General Motors CEO Mary Barra said that, while GM is in favor of corporate tax reform as a whole, a border adjusted tax “if not done very thoughtfully could be very problematic.” Based on research about how often parts and cars cross borders before they become part of an American’s finished vehicle, that seems to be a big understatement on Ms. Barra’s part. Since the early days of the Trump presidency, Barra has been seen at economic meetings with the executive branch, so hopefully her words will reach important ears before any uninformed actions or taxes are enacted.
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Later in the talk, Ms. Barra turned the conversation to the dangers of distracted driving and the future of autonomous vehicles. A lot of our articles here on The News Wheel of late have been about the new Trump presidency and what its most drastic proclamations could have in store for the auto industry. It is good to know that GM and its CEO are keeping their eyes on what is going on at the White House, but have continued to work on initiatives that will have effects on drivers beyond the next four or eight years.
News Source: USA Today