Trump could slap steep tariffs on imported cars next week
Weeks after General Motors ended one of its longest strikes in years, the American car industry could be headed for more turbulence.
After an initial six-month delay, President Donald Trump must decide by Nov. 13 whether to follow through with threats to levy tariffs on automobile imports. The U.S. Commerce Department drew backlash from business groups and lawmakers in February after it concluded that car imports pose a threat to national security.
While Trump has continued to threaten the move against Asian and European trading partners, Commerce Secretary Wilbur Ross said over the weekend that the tariffs might not be necessary.
"We have had very good conversations with our European friends, with our Japanese friends, with our Korean friends, and those are the major auto-producing sectors," Ross said in an interview with Bloomberg.
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