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Trump May Delay Decision on Auto Tariffs for 6 Months
President Donald Trump reportedly will announce on Saturday that he is shelving a decision to hike tariffs on imported cars for as long as six months.
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President Donald Trump will announce on Saturday that he is shelving a decision to hike tariffs on imported cars for as long as six months, according to multiple media reports.
A decision had been expected on May 18. Trump has been threatening for months to raise import taxes on cars to 25% from the current 5%, putting pressure on foreign carmakers to build more vehicles in the U.S.
The Trump administration presumably would justify a tariff hike as a matter of national security. An analysis of that position was submitted to the White House in February by the Dept. of Commerce, but its findings remain a secret.
When Trump was asked in March by Fox Business Network whether imported cars represent a security risk, he replied, “Well, no.” He explained that his primary goal is to achieve more balanced trade between the U.S. and Europe.
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