Mexican Media Brands
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.
#economics
Share
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.
RELATED CONTENT
-
Porsche Doubles EV Target for 2025
Porsche AG says about half the vehicles it sells by 2025 will be equipped with hybrid or all-electric powertrains, twice the ratio it forecast four weeks ago.
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future
-
Inside Ford
On this edition of “Autoline After Hours” Joann Muller, Detroit bureau chief for Forbes, provides insights into what she’s learned about Ford, insights that are amplified on the show by our other panelists, Stephanie Brinley, principal analyst at IHS Markit who specializes in the auto industry, and Todd Lassa, Detroit Bureau Chief for Automobile.