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Automakers expect White House to delay decision on auto tariffs: sources
Source: Reuters
BUSINESS NEWS MAY 8, 2019 / 4:15 PM / UPDATED 4 HOURS AGO
Automakers expect White House to delay decision on auto tariffs: sources
David Shepardson
4 MIN READ
WASHINGTON (Reuters) - Automakers expect U.S. President Donald Trump to delay a decision due next week on whether to impose steep tariffs on imported cars and auto parts on national security grounds for up to six months as talks continue with the European Union and Japan.
In February, the Commerce Department submitted its “Section 232” national security report. Trump has until May 18 to act, but four auto executives who have spoken to administration officials say he is likely to extend that deadline by another 180 days. He may also announce a specific date to impose new duties if no deal is reached.
Administration officials say Trump could still opt to impose the tariffs by May 18, but believe that after a series of investment announcements by automakers - including one by General Motors Co on Wednesday of $700 million in three Ohio plants - he will likely delay the tariffs amid a trade battle with China.
The auto tariffs face wide opposition in Congress. The White House refuses to turn over the Commerce report to Republican Senator Chuck Grassley, chairman of the Senate Finance Committee, who has been demanding to see it.
-snip-
Automakers expect White House to delay decision on auto tariffs: sources
David Shepardson
4 MIN READ
WASHINGTON (Reuters) - Automakers expect U.S. President Donald Trump to delay a decision due next week on whether to impose steep tariffs on imported cars and auto parts on national security grounds for up to six months as talks continue with the European Union and Japan.
In February, the Commerce Department submitted its “Section 232” national security report. Trump has until May 18 to act, but four auto executives who have spoken to administration officials say he is likely to extend that deadline by another 180 days. He may also announce a specific date to impose new duties if no deal is reached.
Administration officials say Trump could still opt to impose the tariffs by May 18, but believe that after a series of investment announcements by automakers - including one by General Motors Co on Wednesday of $700 million in three Ohio plants - he will likely delay the tariffs amid a trade battle with China.
The auto tariffs face wide opposition in Congress. The White House refuses to turn over the Commerce report to Republican Senator Chuck Grassley, chairman of the Senate Finance Committee, who has been demanding to see it.
-snip-
Read more: https://www.reuters.com/article/us-autos-tariffs/automakers-expect-white-house-to-delay-decision-on-auto-tariffs-sources-idUSKCN1SE2MA
