By David J. Lynch David J. Lynch Financial writer covering trade and globalization Email Bio Follow May 17 at 9:44 AM President Trump is giving the European Union and Japan six months to agree to limit their auto shipments to the United States or face the threat of U.S. tariffs.
The president’s decision followed a Commerce Department report that concluded rising imports of foreign autos and auto parts threatened U.S. automotive research and development capabilities and thus impaired national security. “American-owned automotive R & D and manufacturing are vital to national security,” Commerce Secretary Wilbur Ross found.The president threatened last year to hit foreign cars and parts with a 25 percent tariff but agreed to defer a decision while negotiations with U.S. trading partners proceed.
Friday’s announcement was not unexpected. But it sets the clock running on another key trade issue at a time when Robert E. Lighthizer, the chief U.S. trade negotiator, already is engaged in trying to reset trade relations with China and secure congressional approval of a new North American trade deal.
“If agreements are not reached within 180 days, the president will determine whether and what further action needs to be taken,” a White House statement said.
Bullshit NON STOP
Why not, he's already screwed farmers, coal and steel workers.
He’ll have forgotten about it by then and be on to some other con.
realDonaldTrump AKA DonTheCon delays, delays, delays, every time he loses on tariffs BillionDollarLoser ImpeachTrump RepublicansForImpeachment
The wind shifted.
Trump is a one-trick pony, trying to beat everyone & every entity into submission. One can't help but wonder if he learned capitulation as a child, in beatings by his parents. It's such a poor policy, like a parent beating a child with a belt, but it's the ony tool in his box.
He is already feeling the public backlash from these self-imposed tariffs on grain and produce exports. Some switch must have been flipped in his otherwise empty head, and he figured...'hey...I think more destruction of the US economy can wait a bit, are you OK with that Vlad'.
Delay delay delay that’s all this president knows,that and I’ll take you to court
China HS Codes. For tariff
CryBabyTrump
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