U.S. President Donald Trump's focus on tariffs as an economic weapon is misguided, and the tariffs are likely to drive up the cost of raw materials used to manufacture auto parts, industry practitioners in Brazil said.
According to local media reports, the Brazilian Association of the Auto Parts Industry and the National Association of Brazilian Auto Parts Manufacturers have issued a statement expressing their concerns over the U.S. tariff policy.
At a factory that produces rearview mirrors in Sao Caetano do Sul, where several auto parts manufacturers are based, Iramaia, the manager of production planning and control, expressed her concern about U.S. President Donald Trump's tariff policy.
Iramaia said that the tariffs could lead to higher costs for raw materials, resulting in increased production costs for Brazilian companies.
"I believe this will have a significant impact, as the tariffs imposed by the U.S. will make products more expensive. For example, the imported materials we use here. I believe this will increase costs for Brazilian companies," said Iramaia.
Vice president of the National Association of Auto Parts Manufacturers Marcio Roberto Codogno criticized Trump's tariff policy. He believes that the policy is a mistake and will not achieve the desired results.
While short-term impacts on Brazilian auto parts businesses are expected, he suggests that in the long run, it may encourage Brazil and other markets to strengthen trade relationship with other countries.
"As for my views on Trump's tariff policy, I believe it is a misguided approach. It's as if he wants to take the U.S. back more than a century. Even if his intention is to reindustrialize the U.S., I don't think this possibility is very realistic. In fact, I believe the ones who are suffering the most are the American people," said Codogno.
Trump announced a 25 percent tariff on auto imports which took effect for vehicles on April 3, and tariffs on auto parts are set to start on May 3.
The tariffs are bad news for Brazil, which last year exported 1.37 billion U.S. dollars' worth of auto parts to the United States, accounting for 17.5 percent of Brazil's total auto parts exports.
Local media reports have warned the cost rise associated with the tariffs could potentially lead to U.S. sales plummeting by over 340 million U.S. dollars.
US tariff policy is misguided: auto industry practitioners in Brazil
US tariff policy is misguided: auto industry practitioners in Brazil
The Iranian government is focusing on public concerns and maintaining stable supplies of essential goods amid recent protests, Iranian President Masoud Pezeshkian said in a televised interview on Sunday.
In the city of Karaj, northwest of the capital Tehran, daily life has largely continued as normal. A video filmed by a local resident on Sunday shows food stores open and grocery shelves fully stocked.
"This is the block near my home, and there are some food stores here. Daily life continues here. Last night we did not see many protests in Karaj. Right now the city is very safe. This is a grocery store close to my home. All the food is available; nothing is in shortage. Here are noodles and different types of beans. Here are dairy products, cheese, and yogurt. I also checked other grocery stores and didn't see any shortages. Everything is available," said local resident Ali Reza.
Iranian officials have described recent disturbances as acts orchestrated by the "enemy," including some carried out by well-trained and armed "terrorists." The incidents have caused casualties among security personnel and civilians, as well as property damage.
The Secretary of Iran's Supreme National Security Council Ali Larijani has directed authorities to severely punish the "terrorists."
Meanwhile, Iran's police chief Ahmad-Reza Radan said on Sunday that the police had raised alert levels and arrested several leaders of the troublemakers during the operations on Saturday.
President Pezeshkian noted in the interview that the normal demands of the Iranian people are reasonable and justified, but they must realize that triggering riots and carrying out terrorist acts are the enemy's attempts to undermine the country. He urged the public to remain vigilant.
Also on Sunday, Iranian Parliament Speaker Mohammad Baqer Qalibaf warned that Tehran would regard U.S. and Israeli bases and facilities in the Middle East as "legitimate targets" if Washington takes military action against Iran. His remarks followed media reports saying U.S. President Donald Trump is "seriously considering authorizing a strike" against Iran.
Iranian state media reported that at least 109 members of Iran's security forces have been killed in clashes since the protests began 14 days ago. Meanwhile, human rights groups based outside the country said the number of protesters killed has exceeded 200, though the figure could not be independently verified.
The protests initially erupted over a sharp depreciation of the rial and sweeping subsidy reforms. Iranian authorities have blamed the unrest on foreign-linked agents and sanctions imposed by the United States.
Iranian president says government focusing on ensuring supplies amid protests
