Is Trump Set to Delay EU Car Tariffs by Another Six Months?
According to EU officials, US President Donald Trump is likely to put off his decision to impose tariffs on European cars and auto parts. Trump is expected to make an announcement regarding this delay sometime this week.
EU officials claim to have received reassurances from the Trump administration that the tariffs will not come into effect this week, after Trump had postponed his decision back in May by six months. Trump had previously threatened to impose up to 25% tariffs on European autos and auto parts under Section 232, claiming threat to national security.
Earlier this month, US Commerce Secretary Wilbur Ross had commented that talks with the EU, Japan and South Korea on this issue were progressing well. He had also hinted that the US could decide against imposing tariffs on these markets as a result of positive negotiations.
EU officials remain cautiously optimistic that Trump could announce an additional six-month delay on the decision to hike tariffs, but could focus on this issue while undertaking trade negotiations with the EU in the near future. Even while markets continue to focus on the US-China trade war, the EU and the US have so far made no headway in talks towards resolving their trade dispute.
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