Mr. Pot, Meet Mr. Kettle: China Wants Tariff on Car Imports?

A report in French financial magazine Les Echos suggests that the Chinese government is considering imposing an additional tariff on cars imported from the European Union.

The report was picked up by analysts Morgan Stanley, which suggest that the new tariff could be in response to the recently announced 11% tariff by the EU on Chinese-made solar panels. ACEA, the EU car association, says that the car tariff could be in place as early as September.

The tariff would apply to cars with engines of two liters and upwards and it would particularly affect German car manufacturers. The percentage of China sales imported for these companies are as follows: VW: 15%, BMW: 50% and Mercedes: 55%.

The BMW X3, X5 and X6 and the Mercedes ML are made in the U.S., so they would not be subject to the tariff, which means that the primary models affected would be the BMW 6 and 7 series and the Mercedes S-class. In fact, the timing for Mercedes could hardly be worse, as September is around two months before the company launches the S-class in China and all S-class models have engines of at least two liters and all are made in Germany. (Tyres & Accessories)

Ascot Supply Corporation, based in Newnan, Georgia, has selected Mark Paquette for the newly created position of vice president. In this position, Ascot Supply said Paquette will oversee the growth of the company's products, corporate profitability, manage marketing and advertising and assume many other responsibilities.

He will work under the direction of current President David Kessler and officially begin his new role on June 3. Paquette joined the tire and automotive industry in the early 1980s at his father's tire shop, and his contributions to Mohawk Rubber Sales were instrumental in the company's growth and eventual sale to Myers Tire Supply in 2021, according to Ascot Supply. Paquette eventually was given a promotion to the role of director of operations at Myers Tire Supply.