Automakers around the world are awaiting a decision from US President Donald Trump on whether he will impose up to 25 percent tariffs on US car and auto part imports after a 180-day review period elapsed last week.
Trump was briefed ahead of the expiry of the self-imposed deadline, which he set in May, to decide whether to again extend a review or impose tariffs that automakers have warned could cost jobs and dramatically boost vehicle prices.
Officials from major automakers told Reuters they believe Trump will not impose new levies on vehicles from the European Union, Japan or elsewhere amid a trade war with China.
The Trump administration first launched its probe of foreign autos in May 2018 and six months ago Trump agreed with an administration study that some imported cars and trucks are “weakening our internal economy” and threaten to harm national security, but stopped short of naming specific vehicles or parts.
Trump could make an announcement on Friday, but nothing is final until he signs off, administration officials say. Trump could make an announcement on Friday, but nothing is final until he signs off, administration officials say. — Reuters.