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A tariff is a tax imposed by the government of a country or by a supranational union on imports or exports of goods. Besides being a source of revenue for the government, import duties can also be a form of regulation of foreign trade and policy that taxes foreign products to encourage or safeguard domestic industry. Protective tariffs are among the most widely used instruments of protectionism, along with import quotas and export quotas and other non-tariff barriers to trade.
The Trade Expansion Act of 1962 is an American trade law.
Free trade is a trade policy that does not restrict imports or exports. In government, free trade is predominantly advocated by political parties that hold economically liberal positions, while economic nationalist and left-wing political parties generally support protectionism, the opposite of free trade.
Customs is an authority or agency in a country responsible for collecting tariffs and for controlling the flow of goods, including animals, transports, personal effects, and hazardous items, into and out of a country. Traditionally, customs has been considered as the fiscal subject that charges customs duties and other taxes on import and export. In recent decades, the views on the functions of customs have considerably expanded and now covers three basic issues: taxation, security, and trade facilitation.
Protectionism, sometimes referred to as trade protectionism, is the economic policy of restricting imports from other countries through methods such as tariffs on imported goods, import quotas, and a variety of other government regulations. Proponents argue that protectionist policies shield the producers, businesses, and workers of the import-competing sector in the country from foreign competitors. Opponents argue that protectionist policies reduce trade and adversely affect consumers in general as well as the producers and workers in export sectors, both in the country implementing protectionist policies and in the countries protected against.
Malcolm N. Bricklin is an American businessman, widely known for an unorthodox career spanning more than six decades with numerous prominent failures and successes — primarily manufacturing or importing automobiles to the United States, ultimately starting over thirty companies.
Tariffs have historically served a key role in the trade policy of the United States. Their purpose was to generate revenue for the federal government and to allow for import substitution industrialization by acting as a protective barrier around infant industries. They also aimed to reduce the trade deficit and the pressure of foreign competition. Tariffs were one of the pillars of the American System that allowed the rapid development and industrialization of the United States. The United States pursued a protectionist policy from the beginning of the 19th century until the middle of the 20th century. Between 1861 and 1933, they had one of the highest average tariff rates on manufactured imports in the world. However American agricultural and industrial were cheaper than rival products and the tariff had an impact primarily on wool products. After 1942 the U.S. promoted worldwide free trade.
A voluntary export restraint (VER) or voluntary export restriction is a measure by which the government or an industry in the importing country arranges with the government or the competing industry in the exporting country for a restriction on the volume of the latter's exports of one or more products.
The automotive industry in China has been the largest in the world measured by automobile unit production since 2008. Since 2009, annual production of automobiles in China accounted for more than 32% of worldwide vehicle production, exceeding both that of the European Union and that of the United States and Japan combined.
The National Automobile Dealers Association (NADA) is an American trade organization representing nearly 16,500 franchised new car and truck dealerships, both domestic and foreign. Established in 1917, the organization is based in Tysons Corner, Virginia. As the automotive retail industry's primary trade association, NADA monitors federal legislation and regulation affecting dealerships and publishes forecasts and reports about industry trends. American Truck Dealers, established in 1970, is a division of NADA representing nearly 1,800 heavy- and medium-duty truck dealerships throughout the United States.
The Brazilian automotive industry is coordinated by the Associação Nacional dos Fabricantes de Veículos Automotores (Anfavea), created in 1956, which includes automakers with factories in Brazil. Anfavea is part of the Organisation Internationale des Constructeurs d'Automobiles (OICA), based in Paris. In 2021, the annual production exceeded 2.2 million vehicles, the 8th largest in the world.
The automotive industry in Japan is one of the most prominent and largest industries in the world. Japan has been in the top three of the countries with most cars manufactured since the 1960s, surpassing Germany. The automotive industry in Japan rapidly increased from the 1970s to the 1990s and in the 1980s and 1990s, overtook the U.S. as the production leader with up to 13 million cars per year manufactured and significant exports. After massive ramp-up by China in the 2000s and fluctuating U.S. output, Japan is currently the third largest automotive producer in the world with an annual production of 9.9 million automobiles in 2012. Japanese investments helped grow the auto industry in many countries throughout the last few decades.
The Alliance for Automotive Innovation is a Washington, D.C.-based trade association and lobby group whose members include international automobile and light duty truck manufacturers that build and sell products in the United States. In 2019, the Global Automakers merged with the Alliance of Automobile Manufacturers and became the Alliance for Automotive Innovation.
Protectionism in the United States is protectionist economic policy that erects tariffs and other barriers on imported goods. In the US this policy was most prevalent in the 19th century. At that time it was mainly used to protect Northern industries and was opposed by Southern states that wanted free trade to expand cotton and other agricultural exports. Protectionist measures included tariffs and quotas on imported goods, along with subsidies and other means, to restrain the free movement of imported goods, thus encouraging local industry.
South Africa is traditionally the leader in Africa of the automotive industry and now produces more than half a million automobiles annually of all types. While domestic development of trucks and military vehicles exists, cars built under license of foreign brands are the mainstay.
As of 2019, the automotive industry in Thailand is the largest in Southeast Asia and the 10th largest in the world. The Thai industry has an annual output of more than two million vehicles, more than countries such as Belgium, Canada, the United Kingdom, Italy, Czech Republic and Turkey.
A destination-based cash flow tax (DBCFT) is a form of border adjustment tax (BAT) that was proposed in the United States by the Republican Party in their 2016 policy paper "A Better Way — Our Vision for a Confident America", which promoted a move to the tax. It has been described by some sources as simply a form of import tariff, while others have argued that it has different consequences than those of a simple tariff.
Automotive industry in Vietnam is a fast growing sector, mainly reliant on domestic sales. All currently produced models are designed abroad by foreign brands, and many rely on knock-down kit production. Due to high import taxes on automobiles, the Vietnamese government protects domestic manufacturing. Although Vietnam is a member of the ASEAN Free Trade Area, automobile imports fall under an exception. Since January 1, 2018, the 30% import tax has been discontinued as part of ASEAN agreements. Currently, the Vietnamese motor industry is not deemed competitive enough to make exports feasible. As of April 2018, 85% of car sales in Vietnam were produced domestically from CKD kits.
The automotive industry in Egypt has been developing for 50 years. It can sell more than 200,000 vehicles annually and is now the second-largest market in Africa and the 42nd largest in the world, with an annual production output of over 70,000 vehicles. After experiencing many failures and success, the Egyptian Automotive industry is focusing more on assembly operations rather than manufacturing.
The automotive industry in the Philippines is the 9th largest in the Asia-Pacific region, with approximately 273.4 thousand vehicles sold in 2019. Most of the vehicles sold and built in the Philippines are from foreign brands. For the most part, the Philippines is dominated by Japanese automobile manufacturers like most of its ASEAN neighbors. The automobile production in the country is covered under the Philippine Motor Vehicle Development Program implemented by the Board of Investments. In addition, there are also a small number of independent firms who assemble and fabricate jeepneys and other similar vehicles, using surplus engines and drivetrain parts mostly from Japan.
References
- ↑ "One on One with Cody Lusk, AIADA's New President". www.theautochannel.com. Retrieved 2018-12-25.
- ↑ Rubin, Richard (2017-02-07). "GOP Plan to Overhaul Tax Code Gets Held Up at the Border". Wall Street Journal. ISSN 0099-9660 . Retrieved 2021-09-15.
- ↑ "Tax threat heightens concern about affordability". Automotive News. 2017-02-10. Retrieved 2021-09-15.
- ↑ "At 50, AIADA still true to free-trade". Automotive News. 2020-02-13. Retrieved 2021-09-15.
