By Mark Swanson – Re-Blogged From Newsmax
All but one of the 45 scheduled witnesses expected to testify Thursday at a daylong Commerce Department hearing will oppose President Donald Trump’s auto tariffs plan, Politico reports.
And the one witness who agrees with the tariffs is advocating a targeted approach vs. the sweeping plan outlined by the administration, Politico reports.
Trump’s tariffs are uniformly opposed by the U.S. automotive industry.
“Simply put, auto tariffs are a massive tax on consumers,” one of Thursday’s witnesses, Jennifer Thomas, vice president of the Alliance of Automobile Manufacturers, wrote in prepared testimony.
“This would equate to an $83 billion tax on U.S. consumers that would trigger a domino effect on the industry and economy. When vehicle prices rise, demand drops. Lower demand means less production,” Thomas wrote, Politico reports.
Ten foreign officials are also expected to testify Thursday, including ambassadors of Mexico, the European Union and Canada, Politico reports.
The one witness expected to testify in favor of the tariffs, United Automobile Workers research director Jennifer Kelly, is also prepared to warn against sweeping tariffs.