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White House to Meet Tomorrow on Auto Tariffs
The White House’s top trade negotiators will meet on Nov. 13 to discuss a broad plan to impose import tariffs on foreign cars for the sake of protecting national security, sources tell Bloomberg News.
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The White House’s top trade negotiators will meet on Nov. 13 to discuss a broad plan to impose import tariffs on foreign cars for the sake of protecting national security, sources tell Bloomberg News.
The meeting will review a draft report by the U.S. Dept. of Commerce about the strategy. The department began an analysis of the idea—which was used to justify U.S. tariffs on imported aluminum and steel—in May. Bloomberg’s sources didn’t indicated the Commerce Dept.’s conclusions.
President Donald Trump is using the threat of a 25% across-the-board tariff on imported cars to pressure Europe and Japan into reducing their own tariffs on American-made vehicles. Trump has repeatedly declared he is getting impatient about the lack of progress in the negotiations.
Bloomberg notes that formal trade talks between the U.S. and European union are to begin in mid-January. In the meantime, European Commission President Jean-Claude Junker told reporters earlier today that he doubts the current tariff truce between the two market will last beyond December.
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