Senate to Vote Wednesday on Authority Over 232 Tariffs

First Up 07/11/18

Senate to Vote Wednesday on Authority Over 232 Tariffs
The Senate on Wednesday will vote on a motion to instruct its energy and water appropriations bill conferees to include in the legislation language that would give Congress some authority it has delegated to the president to implement tariffs under Section 232 of the Trade Expansion Act of 1962, reports Inside U.S. Trade. The vote will be the first for the Senate; previous attempts by Sen. Bob Corker (R-Tenn.) and some of his colleagues to move a bill to give Congress the final say over Section 232 tariffs were rebuffed. The vote, however, will not be on Corker’s bill itself. Instead, the Senate will consider instructions to include language in the 2019 Energy and Water, Legislative Branch, and Military Construction and Veterans Affairs Appropriations Act that would provide “a role for Congress in making a determination under Section 232 of the Trade Expansion Act of 1962.” Read more here (subscription required). 

Urgent Alert: Senator Bob Corker's (R-Tenn.) legislation to reclaim congressional authority on foreign trade, which AIADA supports, may receive a vote as early as today. The proposal would rein in the President’s ability to apply tariffs using the Section 232 “national security” rule by requiring congressional approval before new tariffs could be assessed. Dealers are urged to call their Senators today and ask them to support Senator Corker’s efforts to take back Congress’ authority on foreign trade.

Trump Must Meet Xi to Stop Trade War, Top House Republican Says
Representative Kevin Brady, a Texas Republican who heads the powerful Ways and Means Committee, called on Trump to meet Chinese counterpart Xi Jinping and hash out an agreement to settle their trade differences, reports Bloomberg. Brady warned that further escalation, such as the administration’s latest move to levy tariffs on $200 billion of Chinese goods, risked a multiyear fight that “that engulfs more and more of the globe.” He said, “Despite the serious economic consequences of ever-increasing tariffs, today there are no serious trade discussions occurring between the U.S. and China, no plans for trade negotiations anytime soon, and seemingly little action toward a solution. I strongly urge President Trump and President Xi to meet soon face to face to craft a solution to establish fair and lasting trade between our two countries.” Read more here.

Mercedes-Benz, Bosch to Launch Self-Driving Car Service in Silicon Valley
As self-driving vehicle experiments are launched in a few cities around the U.S., Mercedes-Benz maker Daimler and a prominent auto supplier are launching a new one in the place that would seem most receptive: Silicon Valley. According to The Detroit Free Press, Daimler and auto components maker Bosch will start a self-driving vehicle shuttle service in one of the cities south of San Francisco that comprises the heart of the nation's tech industry beginning in the second half of 2019. The move marks a concrete step forward for a partnership announced in April 2017 with the ultimate goal of delivering a self-driving car by 2021. Daimler and Bosch will begin their service as a pilot project offering rides for free on "selected routes" to a limited number of customers, said Uwe Keller, head of autonomous driving for Daimler. Read more here.  

Tesla Signs Deal for China Factory, Won't Reveal Price
Tesla Inc. and the Shanghai government have left out a crucial detail in announcing a groundbreaking deal for the biggest name in electric cars to build its vehicles in China: how much it’s all going to cost. According to The Detroit News, Chief Executive Officer Elon Musk sealed a crucial agreement Tuesday to start building its second car assembly plant in the world. Construction will begin soon after approvals and permits are secured, and the first vehicles will roll off the line within roughly two years, a Tesla spokesman said in an email. It’ll take another two to three years for the factory to reach its capacity to build about 500,000 vehicles annually. The preliminary agreement is a major development in Tesla’s more than yearlong effort to open China’s first production facility that will be wholly owned by a foreign carmaker. But the absence of detail about the size of the investment is turning heads because the Musk-led company had just $2.7 billion in cash at the end of the first quarter. Read more here. 

Big SUVs Register the Most Miles Driven, Despite Poor Fuel Economy
Despite suffering from fuel economy that’s rated as low as a paltry 15/22 mpg city/highway (and with real world mileage likely to be even less-frugal) the full-size Chevrolet Suburban sport-utility vehicle was found to be the vehicle that racks up the most miles in the U.S. on an annual basis, reports Forbes. In fact, among the 10 “most driven” models, all but one – the family favorite Honda Odyssey minivan – are SUVs, with seven of them being full-size behemoths, and most coming from domestic automakers. That’s according to an analysis of more than 1.7 million sales of 10-year-old models that changed hands from 2014 to 2017, conducted by the used-vehicle website iSeeCars.com. At the other end of the spectrum, the least driven vehicles in the U.S. – again no shocker – are racy sport coupes and convertibles that spend most of their days sheltered in a garage. Read more here. Around the Web

At $3,700, Could This 2001 Toyota MR2 Spyder Be Your Rough Rider? [Jalopnik]

This Could Become the Most Expensive British Car Ever [Road and Track]

German Banks Suggest Adding a Classic Car to Your Investment Mix [Autoblog]

U.S. Regulators Grappling with Self-Driving Vehicle Security [Automotive News]

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