Donald Trump Holding Off On Auto Tariffs – For Now…

The Trump administration will reportedly hold off on enforcing new tariffs on automobile imports, Bloomberg reports.

On Tuesday, President Donald Trump met with a number of top trade advisers to discuss a report on a Commerce Department investigation into the impact of car imports in the country’s national security.

Individuals close to the discussions, who spoke on the condition of anonymity, say the report will be subject to further changes and that the administration isn’t yet ready to act on potential new tariffs.

Commerce Secretary Wilbur Ross is heading up the probe and has until February to deliver his findings to President Trump. The probe covers the imports of automobiles, including SUVs, vans, light trucks, and auto parts.

The President has the final say on whether new tariffs will be imposed, and has previously threatened tariffs of up to 25 per cent on foreign-made vehicles.

If the Commerce Department concludes that auto imports represent a national security risk, then Trump will have 90 days after receiving the report to decide whether to impose tariffs or not.

In the months since he made his initial threats, the President has agreed not to impose auto tariffs on Europe as the two iron out a trade deal.

Carmakers have spoken out about the harm tariffs could do to the U.S. economy and the global automobile industry. The National Automobile Dealers Association predicts the cost of U.S.-built cars to rise by $2270 due to additional tariffs while the average cost of imported cars and trucks could soar by $6875.

Verschiffung BMW i3 in Bremerhaven 11-2015
  • LJ

    The guy can be a jackass on Twitter, but he’s not an idiot like the press and his detractors make him out to be. He went hard at Mexico and Canada, and now we have a better trade deal with both of them. I’m hopeful the same will happen with Europe and China. Businessmen aren’t known for playing softball, something most politicians aren’t used to.

    • Stigasawuswrecks

      It’s pretty much NAFTA with a different name.

      • LJ

        It’s NAFTA if NAFTA didn’t completely suck.

        • Stigasawuswrecks

          Please elaborate. I’m sure you can give a very detailed and educated opinion as to why NAFTA was terrible and why this new deal is better.

          • LJ

            So can Google.

          • Stigasawuswrecks

            Which leads me to believe that you have no idea and only believe it’s bad because someone you like told you it was.

          • LJ

            You can believe I don’t have the time to write a detailed outline of the pros and cons of the new deal for you when Google is a search bar away.

    • DGC

      For example… The trade with Canada… 2x4x8 Construction lumber went from $2.50 last year to $3.50 after the agreement. That’s a price increase of 40%… Where is this helping everyone’s bottom line in the construction industry. Those cost spread through to all their consumers.

      • pxsupply

        And that’s always the case! Business/Corporations are never the ones paying for this. They always have to pass it on to consumers. In the end it is always the consumer that will suffer, because prices are going up. This is a different example… My company is in the military business. We produce (among other things) challenge coins and baseball hats for soldiers. After January 01st next year, import tariffs on these items are going up 25% to 32% from China. Crazy

    • performante

      We have a steak salesman as our president. He couldn’t deal his way out of a flee market.

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