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Honda also faces retaliatory tariffs from Canada and China on lawn-mowers it builds in North Carolina and transmissions made in Georgia. Honda has not boosted U.S. vehicle prices as a result of the higher costs but the issue is “certainly part of our thinking as we go forward,” Schostek told reporters after the hearing. While the vast majority of steel and aluminum that Ford uses for U.S. production is made domestically, it has said the tariffs could result in higher domestic commodity prices.

Ford shares dipped 0.7 percent to $9.32 in afternoon trading, The United States said in March it would impose a 25 percent tariff on imported steel and a 10 percent tariff on imported aluminum from most countries, The tariffs have allowed U.S, stainless steel black and gold mickey mouse cufflinks producers to raise their prices, U.S, President Donald Trump’s steel and aluminum tariffs will boost car prices by hiking commodity costs for manufacturers, automakers have warned, During the presidential campaign, Trump lambasted U.S, trade deficits as detrimental to American manufacturers and workers..

Since taking office, Trump has pursued a policy of escalating tariffs that he says will reverse that trend, including waging an increasingly bitter trade war with China. The auto industry is bracing for a possible new round of tariffs. On May 23 Trump ordered a “Section 232” national security investigation into whether to impose a 25 percent tariff on vehicle and auto parts imported from the European Union and other trading partners. The section, included in the U.S. Trade Expansion Act, allows the president to adjust imports through tariffs if they threaten national security.

At a briefing in Detroit on Wednesday, officials from analytics data firm IHS Markit said if the Trump administration imposed the Section 232 tariffs globally, it would have far-reaching consequences for the U.S, auto industry as well stainless steel black and gold mickey mouse cufflinks as the broader economy, IHS Markit estimates that full implementation of the 232 tariffs would add between $1,800 and $5,700 to a new vehicle’s price tag and cut new auto sales by around 2.2 million units in 2020 as well as slice total sales to as little as 14.5 million units from expectations of 17 million vehicles this year..

NEW YORK (Reuters) - Oil prices eased on Wednesday after U.S. data showed a surprise build in domestic crude inventories, but an impending drop in Iranian exports kept Brent futures above $80 a barrel and on track for a fifth straight quarterly gain. Global benchmark Brent fell 53 cents to settle at $81.34 a barrel. On Tuesday, Brent rose as high as $82.55, the highest since November 2014. U.S. West Texas Intermediate (WTI) crude futures lost 71 cents to settle at $71.57 a barrel. U.S. crude inventories rose 1.9 million barrels in the week to Sept. 21, according to U.S. Energy Information Administration (EIA) data. Analysts had expected a decrease of 1.3 million barrels.

Refinery crude runs fell by 901,000 barrels per day, EIA data showed, “We are reluctant to read much into today’s price action or the unexpected crude build per stainless steel black and gold mickey mouse cufflinks the EIA, The complex had a strong upside run and is entitled to a correction,” Jim Ritterbusch, president of Ritterbusch and Associates, said in a note, Investors kept a close eye on impending U.S, sanctions affecting Iran’s petroleum sector, due to come into force in November, The oil market is bracing for a hit to global supplies from the sanctions, Brent remains on course for its fifth consecutive quarterly increase, the longest stretch since early 2007 when a six-quarter run led to a record-high price of $147.50 a barrel..

Several big buyers, such as a number of Indian refiners, have signaled they will wind down purchases of Iranian crude but the impact on global markets is not yet clear. U.S. officials, including President Donald Trump, are trying to reassure consumers and investors that enough supply will remain in the oil market and have pushed the Organization of the Petroleum Exporting Countries (OPEC) to raise output. In a Tuesday speech at the United Nations, Trump reiterated calls on OPEC to pump more oil, accused Iran of sowing chaos and promised further sanctions on the country.

The so-called “OPEC+” group, which includes non-OPEC members such as Russia, met over the weekend but decided not to boost output, Commerzbank said in a note that “the latest rise in oil prices is due primarily to Trump himself, ., he has focused the market’s attention on the Iran sanctions again, even though the market is adequately supplied at present thanks to the increase in OPEC and Russian production.”, A Nigerian oil stainless steel black and gold mickey mouse cufflinks industry official said OPEC will act to balance the market after oil prices hit a four-year high, but its options may be limited by available spare capacity..



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