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Fri May 17, 2019, 05:08 PM

Trump declares some auto imports pose national security threat

Source: Reuters

BUSINESS NEWS MAY 17, 2019 / 8:34 AM / UPDATED AN HOUR AGO

Trump declares some auto imports pose national security threat

David Shepardson
6 MIN READ

WASHINGTON (Reuters) - U.S. President Donald Trump on Friday declared that some imported vehicles and parts pose a national security threat but delayed a decision for as long as six months on whether to impose tariffs to allow for more time for trade talks with the European Union and Japan.

The unprecedented designation of foreign vehicles imported to the United States from some of its closest allies sparked anger from automakers, dealers and foreign governments after a White House document hinted it would seek voluntary export quotas on autos from U.S. trading partners.

Toyota Motor Corp, which said in March it is investing $13 billion in U.S. operations through 2021, called the designation “a major set-back for American consumers, workers and the auto industry” and said it sent the message “our investments are not welcomed.”

European Trade Commissioner Cecilia Malmstroem said on Twitter that “we completely reject the notion that our car exports are a national security threat. The EU is prepared to negotiate a limited trade agreement (including) cars, but not WTO-illegal managed trade.”

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Read more: https://www.reuters.com/article/us-autos-tariffs-usa/trump-declares-some-auto-imports-pose-national-security-threat-idUSKCN1SN1FY

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