Tuesday, March 18, 2025

US Manufacturing Priorities 3-18-25

US Auto Production capacity has dropped from 80% in 2020 to 50% in 2024. The US needs to restore auto production capacity to convert to Defense Production to respond to attacks from China, Russia North Korea and Iran. 

In addition, the US needs to secure on-shore manufacturing of Steel, Aluminum and Drugs to ensure their availability.

The US Trade Deficit is over $1 trillion.

Country    US Deficit

China       $295.4B

EU           $235.6B

Mexico    $171.8B

 

Vietnam  $113.1B

Ireland     $80.5B

Germany $76.4B

Japan      $70.3B

Taiwan    $67.4B

Canada   $63.3B

India       $45.7B

S Korea  $44.4B

These trade deficits are narrowing.

https://worldpopulationreview.com/country-rankings/us-trade-deficit-by-country

The offer of a 15% Corporate Tax will serve as an incentive for our favorite foreign cars to be produced in the US by companies headquartered in Japan, Germany and S Korea.

The restoration of forestry in the US will increase supply and lower the cost of single family homes and solve the forest fire problem. The expansion of mining for rare earth minerals will give us our own domestic supply to manufacture our own chips.

The 20% European Vat Tax is a separate import tax on US autos.

Country of Purchase

VAT Standard Rate*

Minimum in Local Currency

Austria

20%

€75.01

Belgium

21%

€125.01

Bulgaria

20%

250 BGN

Croatia

25%

€100

Czech Republic

21%

2,001 CZK

Denmark

25%

300 DKK

Estonia

20%

€38.01

Finland

24%

€40

France

20%

€175.01

Germany

19%

€50.01

Great Britain

20%

No refund

Greece

24%

€50

Hungary

27%

74,001 HUF

Iceland

24%

6,000 ISK

Ireland

23%

€75

Italy

22%

€154.95

Latvia

21%

€44

Lithuania

21%

€55

Luxembourg

17%

€74

Malta

18%

€100

Netherlands

21%

€50

Norway

25%

315 NOK

Poland

23%

200 PLN

Portugal

23%

€61.50

Romania

19%

250 RON

Slovakia

20%

€100.01

Slovenia

22%

€50.01

Spain

21%

No minimum

Sweden

25%

200 SEK

Switzerland

8%

300 CHF

Turkey

10–20%

118 TRY

https://www.ricksteves.com/travel-tips/money/vat-rates-in-europe

In Europe, the average excise duty on gasoline is around €0.548 per liter (or $2.24 per gallon), while the average excise duty on diesel is about €0.445 per liter (or $1.82 per gallon). 

https://taxfoundation.org/data/all/eu/gas-taxes-in-europe-2024/

Comments

Europe needs to put their citizens first and reduce their Vat and Gas Taxes.

Norb Leahy, Dunwoody GA Tea Party Leader

 

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