Cash-for-Clunkers = Cash-for-Foreign Automakers?
Alan Tonelson
Sunday, September 13, 2009
U.S. AUTO INDUSTRY TRENDS
U.S. auto sales during first month of Cash for Clunkers program* (June-July, 2009): +16.02%
U.S. auto imports since Cash for Clunkers bill introduced** : +27.62%
U.S. auto parts imports since Cash for Clunkers bill introduced: +4.06%
U.S. auto trade deficit since Cash for Clunkers bill introduced: +56.10%
U.S. auto parts trade deficit since Cash for Clunkers bill introduced: +16.23%
Overall U.S. automotive trade deficit since Cash for Clunkers bill introduced: +43.36%
Overall U.S. trade deficit since Cash for Clunkers bill introduced: +9.71%
U.S. manufacturing trade deficit since Cash for Clunkers bill introduced: +26.36%
*change from June-July, 2009
**March 17, 2009
Sources: Car Makers Upbeat as Sales Rebound, by Jeff Bennett, The Wall Street Journal, September 2, 2009; calculated from Trade Dataweb, U.S. International Trade Commission, http://dataweb.usitc.gov; $3,000-$5,000 incentive for car buyers proposed, by Sharon Silke Carty, USA Today, March 18, 2009
Alan Tonelson is a Research Fellow at the U.S. Business & Industry Educational Foundation and the author of The Race to the Bottom: Why a Worldwide Worker Surplus and Uncontrolled Free Trade are Sinking American Living Standards (Westview Press).