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Imported pickup tax in play in Trump trade talks with South Korea

WASHINGTON/SEOUL - Talks starting Friday to amend a U.S.-South Korean trade deal must balance President Donald Trump's domestic agenda against the need to contain a nuclear armed North Korea and will have to be completed swiftly, officials from both sides told Reuters. The U.S goods trade deficit with South Korea has doubled since the 2012 signing of the US-Korea Free Trade Agreement (KORUS). Almost 90 percent of the 2016 shortfall of $27.6 billion came from the auto sector, an issue the United States is expected to press hard in the Washington talks. A quick deal could give Trump his first trade victory at a time when NAFTA negotiations are dragging on without agreement and pressure on China to change trade practices has yielded little progress. The talks, led by Assistant U.S. Trade Representative Michael Beeman and Yoo Myung-hee, director general for FTA negotiations at South Korea's trade ministry, begin at a time of heightened tensions with Pyongyang. A trade ministry official in Seoul said South Korea was waiting for Washington's formal proposals and substantial negotiations would not take place on Friday over a deal Trump has repeatedly threatened to scrap. "The U.S. brought up lowering non-tariff barriers, especially for their auto industry. At the moment, we are not sure whether the U.S. will ask that but we will be prepared (for the U.S. demand)," said the official, who spoke on condition of anonymity as he was not authorized to talk to the press. A top priority for the Americans is maintaining a 25 percent tariff on Korean pickup truck imports, which was meant to have been phased out from 2019 under the current deal, according to a U.S. official and a South Korean car industry source. South Korea has two major automakers, Hyundai and Kia, both of which are heavily reliant on exports due to the small size of their domestic market. Critics charge that South Korea discriminates against imports with a range of non-tariff barriers. South Korean auto companies believe that Washington will also seek to increase the 25,000-vehicle per U.S. automaker threshold for U.S. car shipments to South Korea that can enter the country without meeting Seoul's domestic industry regulations. The official at a South Korea auto company, who was not authorized to speak to the media, also said the United States was interested in easing Seoul's vehicle emissions targets. These are viewed as discriminating against U.S. autos.

Hurricane Sandy cost automakers 15,000 vehicles, may have ruined up to 200k

Hurricane Sandy was the largest Atlantic storm in US history, and its total economic impact is just now coming into view. According to Automotive News, Toyota, Chrysler, Nissan and Honda are set to scrap around 15,000 new vehicles ruined by the storm. Nissan alone accounts for about 40 percent of those, with 6,000 Nissan and Infiniti models deeded "un-saleable" due to damage. The company saw 56 dealerships shuttered due to the storm, but 51 of those have since reopened.
Toyota, meanwhile, had some 4,000 vehicles at its Newark port facility, and of those, 3,000 may be scrapped. An additional 825 were dealer inventory when they were ruined. Honda and Acura dealers are reportedly sending 3,440 vehicles to the salvage yard. By comparison, Chrysler weathered the storm fairly well with 825 units destroyed, while Hyundai suffered only 400 lost units and Kia scrapped around 200.
As you may recall, Fisker also suffered some losses, and Automotive News reports the manufacturer saw 320 Karma models damaged beyond repair. Ford and General Motors have yet to come up with estimates, and no automaker has commented on the full cost of replacing the vehicles.

Kia shows the inside of its body-on-frame Mohave the Master SUV

Kia published a sketch showing the inside of a full-size SUV named Mohave the Master that it plans to launch in its home market in the coming weeks. The family hauler will be positioned near the top of its South Korean range as its most expensive high-riding model, and unverified rumors claim it could appear in American showrooms sooner or later. Presumably named after the Mojave Desert, the Mohave lives up to its upmarket positioning with an elegant-looking interior characterized by horizontal surfaces that emphasize its width, wood trim, plus contrast stitching on the dashboard and on the door panels. Keep in mind the sketch might show a relatively expensive trim level, and lesser variants could look considerably less posh. The sketch suggests the Mojave shares no parts with the Telluride, the three-row SUV Kia launched on the American market in 2019. The infotainment system's touchscreen is neatly integrated into the dashboard, not propped up on it, and silver accents frame the piano black center console. The Telluride is Kia's answer to the Volkswagen Atlas; the Mohave looks like the firm's Touareg. kia-mohave-the-master-exterior-1 View 3 Photos Stepping outside, the Mohave wears a bold design defined by an upright grille with chrome-look vertical slats, LED headlights and a model-specific emblem instead of the usual Kia logo. Its rear end receives a wide light bar with LED inserts that echo the shape of the grille. The fresh design hides an evolution of the body-on-frame architecture found under the previous Mohave, which the firm's American division launched as the short-lived Borrego in 2008. While Kia hasn't released technical specifications, the emblem on the hatch confirms one of the engines offered will be a 3.0-liter V6. It might be the turbodiesel unit currently available in the Mohave, though it's not unreasonable to assume Kia will also offer a gasoline-powered six. Another emblem denotes the availability of four-wheel drive.  The Kia Mohave the Master will allegedly go on sale in South Korea in September, so a full reveal is imminent. Rumors point to an American comeback, but Kia hasn't announced plans to add another SUV to its line-up in the United States. Auto News Kia SUV