Anonymous ID: 9f5ad9 June 13, 2019, 9:17 a.m. No.6741752   🗄️.is 🔗kun   >>1837 >>1850 >>1997 >>2141

U.S. denies Tesla tariff relief request for Chinese-made Model 3 'brain'

 

WASHINGTON (Reuters) - The Trump administration has denied requests to exempt Tesla Inc’s Model 3 from 25% tariffs on its Chinese-made car computer and center screen, according to letters seen by Reuters.

 

The U.S. Trade Representative’s Office denied both requests in May 29 letters, saying they both concern “a product strategically important or related to ‘Made in China 2025’ or other Chinese industrial programs.”

 

The California-based electric vehicle manufacturer had warned that increased tariffs on the car computer it dubbed the “brains” of the Model 3 causes “economic harm to Tesla, through the increase of costs and impact to profitability.”

 

Tesla had also urged the office to approve a request by its supplier SAS Automotive USA Inc, builder of the center display screen for the Model 3.

 

Tesla did not immediately respond to a request for comment. Shares of Tesla dipped from earlier highs after Reuters first reported the decisions but were still up more than 1% at $212.75.

 

China’s “Made in China 2025” strategy is focused on 10 strategic advanced manufacturing industries including new energy vehicles, where it aims to be a global leader.

 

Reuters reported previously that U.S. trade officials also rejected on May 29 separate requests from General Motors Co and Chinese-owned Volvo Cars for an exemption to a 25% U.S. tariff on their Chinese-made sport utility vehicles.

 

Both GM and Volvo Cars, a unit of China’s Geely, had not raised the sticker price to account for tariffs, which came into play last July.

 

GM’s Buick Envision, a midsize SUV with a starting price of about $35,000, has become a target for U.S. critics of Chinese-made goods, including leaders of the United Auto Workers union and members in key political swing states such as Michigan and Ohio.

https://www.reuters.com/article/us-usa-trade-china-tesla/u-s-denies-tesla-tariff-relief-request-for-chinese-made-model-3-brain-idUSKCN1TE2AM?il=0

Anonymous ID: 9f5ad9 June 13, 2019, 9:28 a.m. No.6741811   🗄️.is 🔗kun   >>1837 >>1860 >>1863 >>1997 >>2141

Fed will make 'insurance cut' in interest rates at next week's FOMC: Vanguard

already demanding it through the press-getting tired of swapping paper amongst yourselves because the Fed Funds rate is much higher-TOLD YOU THEY WOULD DO THIS!!!

see cap#2, now at 25% chance for a cut with this latest call by Vanguard-who need it BADLY-will stand by earlier call that they ease next week and again in July-but this is not a guarantee and only speculation-data supports it imo.

 

Vanguard’s global chief economist Joe Davis says the firm has increased its forecast of a U.S. recession in the next 12-18 months from 30% to 40% and believes the Federal Reserve will act boldly and implement an “insurance cut” in its target range for the federal funds rate as early as next week’s meeting.

https://www.reuters.com/article/us-usa-fed-vanguard/fed-will-make-insurance-cut-in-interest-rates-at-next-weeks-fomc-vanguard-idUSKCN1TE2EY?il=0

https://www.cmegroup.com/trading/interest-rates/countdown-to-fomc.html

Anonymous ID: 9f5ad9 June 13, 2019, 10:08 a.m. No.6742071   🗄️.is 🔗kun

>>6742039

agree with that. How else would they have been able to keep going? They were probably early adopters too and possibly part of the fuckery with Mt Gox exchange a few year back.