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Trump Postpones Auto Tariff Decision for 6 Months
As expected, President Donald Trump announced today he will delay for 180 days a decision about imposing tariffs as great as 25% on foreign cars.
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As expected, President Donald Trump announced today he will delay for 180 days a decision about imposing tariffs as great as 25% on foreign cars.
Trump says he agrees with an analysis submitted in February by the U.S. Dept. of Commerce that concludes imports threaten national security by undermining the country’s domestic manufacturing base. Until now, the White House has not revealed any details about the Commerce Dept. report.
Bloomberg News says Trump’s announcement softened earlier language that said the goal of the U.S. is to “limit or restrict” auto imports to says it aims to address “the threatened impairment” of national security.
Trump’s order also indicates that Canada, Mexico and South Korea would not face future tariffs, because those countries have negotiated trade pacts with the U.S.
Bloomberg says Trump’s delay on auto tariffs is intended to avoid escalating tensions with U.S. allies as the country’s trade war with China expands.
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