Top Reviews: Hyundai i10 Bugatti Veyron Ford Explorer Audi A1 Mazda CX-5 Scion TC Renault Fluence

‘Chicken Tax’ Can Be Cancelled Soon

‘Chicken Tax’ Can Be Cancelled Soon

The ‘chicken tax’ can be very soon abolished as the European Union, the Unites States, and the Pacific Rim nations unite to create a free-trade bloc represented by the Trans-Pacific Partnership as well as the Transatlantic Trade and Investment Partnership, which will involve about 40 per cent of the world’s economy.

Those who don’t know what the ‘chicken tax’ is must be confused at how it relates to the automotive industry. When chicken from the USA faced restrictions from France and West Germany after the WWII, Lyndon B. Johnson imposed a 25 per cent tariff on imported dextrin, brandy, potato starch, and light trucks in response. Since then, foreign automakers have built their plants in the U.S., Americans have supported domestic manufacturers, and a market of light trucks haven’t had rivals. However, it seems everything will change soon and the Americans will be able to purchase the Volkswagen Amarok or the Toyota Hilux. But how soon?

Industry experts assure there won’t be flood of imported pickups and vans on dealer lots all over the country once the agreements come into force. The market will be filled gradually due to political issues, peculiarities of an assembling process, rigid U.S. safety and emissions regulations, etc.

Read More News:

‘Chicken Tax’ Can Be Cancelled Soon
The New Clubman Is a Symbol of Mini’s Different Direction
Human Life Neglect: Vehicles in India Are Deprived Of Basic Safety Features
GM recalls thousands of Malibu, Colorado, Canyon, and Volt vehicles
BMW Unveils an Own-Produced Hydrogen Fuel Cell Car
© 2016 - 2017