25% duty on classic car imports???

holy **** ! this is really bad for me.
thanks for the heads up. i need to move asap.

 

i just wrote them a note

 

Jeezus! Bad for 512 too! Hope this is not right!


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i figure it is not possible to stop them from slapping this on used cars that are less than 25 years old since the loopholes would be too obvious.
so i asked them to consider NOT applying it to cars 25 years old or older.
this way we remain as we are now - no dot, no epa, 2.5% duty.

 

oh ? ! ?
then I missunderstood. thank you for explaining

 

Well this will have a massive effect on the classic car market as a whole and I can predict a massive increase in the value of cars already in the USA. Conversely taking the largest market for classic cars out of the game will have an effect on price in the Europe as well as the ability to market cars in the USA.

An illogical step but this isn't P&R so I wont say anything more, quite how a 30 year old classic car threatens local US industry isn't clear to me.

 

EU will retaliate in other ways, if it chooses to. We already pay circa 20% import duty for anything from outside the EU.

"When importing a car from the America to the UK, you can do so completely tax free should you have owned the vehicle for at least six months and have lived outside the EU for over 12 months.

If these criteria don’t apply then vehicles built in the EU are subject to £50 duty and 20% VAT, based on the amount you paid for the vehicle, with those built outside of the EU coming in at 10% duty and 20% VAT."

One of the reasons you don't see many US cars imported over here, besides the fact that they just do not suite European roads.

In some ways you could say its just levelling the playing field!

 

This sounds great, the ones in the US will be that much more valuable.

 

Isn't that what Europe has been dealing with for Detroit parts?

 

it'll never happen

 

Apologies if I missed it, but when is the new tariff proposed to take effect?

 

Finally putting the brakes on the auction scam. Get rd of the speculators who buy them just to make money.

 

i dont think you have thought this through.
take a minute and contemplate

 

it would kill the vintage car market in the usa, and thus deprive the usa govt of the sales tax they already collect.
it would be monumentally stupid to impose this on cars over 25 years old.

 

http://autoweek.com/article/classic-cars/proposed-automotive-tariff-would-slap-25-percent-import-duty-classic-cars

Article in Autoweek on this.

 

But is the market really threatened or is it just the small quantity (any figures anyone ?) of newly imported cars - surely most of the trading etc involves cars already in the USA

 

Hope Smiles gets his Pur Sang Bugatti 35B into the country before this hits.

 

Tend to agree, but imo the larger issues will overwhelm collector cars.

Looks like he will, I just checked the thread and I think it’s on the way now. Super cool car!

 

Could you be more dramatic ross? Explain how it will "kill" the vintage market, Id love to hear more.

How would this not make the value of cars already in the US go up? You have a limited supply and the new supply would cost more to bring in, take my 575, yes 2064 were made but less than 600 ever came here, if you want to bring over some of the rest when you can its going to cost ALOT thus mine would go up. Can you explain where Im supposed to be outraged?

Im sure someone who owns a US spec rare Ferrari is not going to complain that it costs more to bring in more supply to the market.

 

I assumed this applied to only new cars, but I didn't actually read the proposal. It didn't specify age of car? That's weird.

Just understate value of car and see if no one notices. I guess by a multiple of 10 if you want to make the rate 2.5% again...

 

I still fail to see where this bad for those who own a rare car already in the US. Like the F512M pretty soon they were about to start importing them and drive up the supply here, now its going to cost more making those who own one in the US pretty happy as market value goes up. Where is this bad for anyone except people looking to buy.

 

investigation under section 232 of the Trade Expansion Act of 1962, as amended (19 U.S.C. 1862), to determine the effects on the national security of imports of automobiles, including cars, SUVs, vans and light trucks, and automotive parts. If the Secretary finds that automobiles and/or automotive parts are being imported into the United States in such quantities or under such circumstances as to threaten to impair the national security, the Secretary shall recommend actions and steps that should be taken to adjust automobile and/or automotive parts imports so that they will not threaten to impair the national security.

§ 705.4 Criteria for determining effect of imports on the national security.
(a) To determine the effect on the national security of the imports of the article under investigation, the Department shall consider the quantity of the article in question or other circumstances related to its import. With regard for the requirements of national security, the Department shall also consider the following:

(1) Domestic production needed for projected national defense requirements;

(2) The capacity of domestic industries to meet projected national defense requirements;

(3) The existing and anticipated availabilities of human resources, products, raw materials, production equipment and facilities, and other supplies and services essential to the national defense;

(4) The growth requirements of domestic industries to meet national defense requirements and the supplies and services including the investment, exploration and development necessary to assure such growth; and

(5) Any other relevant factors.

(b) In recognition of the close relation between the strength of our national economy and the capacity of the United States to meet national security requirements, the Department shall also, with regard for the quantity, availability, character and uses of the imported article under investigation, consider the following:

(1) The impact of foreign competition on the economic welfare of any domestic industry essential to our national security;

(2) The displacement of any domestic products causing substantial unemployment, decrease in the revenues of government, loss of investment or specialized skills and productive capacity, or other serious effects; and

(3) Any other relevant factors that are causing or will cause a weakening of our national economy.



Now, while it's good to ensure anything done doesn't accidentally wrap in classic cars and parts, it is clearly not the focus of this and the hand wringing is a bit of shouting the sky is falling.