President Trump’s threat to slap a 25 percent tariff on foreign car imports is facing mounting congressional pushback from both sides of the aisle.
Rep. Jackie Walorski (R-Ind.) and Rep. Terri Sewell (D-Ala.) are co-sponsoring a bill that would prevent the Trump administration from hitting foreign car companies with a punishing tariffs.
“We should use a scalpel not an axe," Sewell said on FOX Business’ “Countdown to the Closing Bell” Wednesday.
“Huge devastation if we had retaliatory taxes,” Congresswoman Walorski added.
Many of the foreign cars made in America, including BMW and Mercedes-Benz, are shipped overseas and the tax would have a trickle-down effect on them. The bipartisan supported bill would require the Defense Department instead of the Commerce Department to decide whether automobiles are a national security threat.
“When you start talking about Section 232, it just makes sense to both of us why is that the commerce department is making that decision and not the Department of Defense,” Sewell explained.