WASHINGTON (P3PWriter) – U.S. President Donald Trump stated on Tuesday the federal government was finishing a examine about growing import tariffs on vehicles from the European Union and steered he would take motion quickly.
“We’re ending our examine of Tariffs on vehicles from the E.U. in that they’ve lengthy taken benefit of the U.S. within the type of Commerce Limitations and Tariffs. In the long run it is going to all even out – and it gained’t take very lengthy!” Trump tweeted.
On Friday Trump threatened to impose a 20 p.c tariff on all imports of EU-assembled vehicles, a month after his administration launched an investigation into whether or not auto imports posed a nationwide safety menace.
On Saturday, a senior European Fee official stated the EU would reply to any U.S. transfer to lift tariffs on vehicles made within the bloc.
The U.S. Commerce Division has a deadline of February 2019 to research whether or not imports of vehicles and auto elements pose a threat to U.S. nationwide safety.
U.S. Commerce Secretary Wilbur Ross stated final Thursday the division aimed to wrap up the probe by late July or August.
Trump has repeatedly singled out German auto imports to the US for criticism.
Trump informed carmakers at a gathering within the White Home on Might 11 that he was planning to impose tariffs of 20 p.c or 25 p.c on some imported autos and sharply criticized Germany’s automotive commerce surplus with the US.
America at the moment imposes a 2.5 p.c tariff on imported passenger vehicles from the EU and a 25 p.c tariff on imported pickup vehicles. The EU imposes a 10 p.c tariff on imported U.S. vehicles.
Reporting by Doina Chiacu and Eric Walsh; Modifying by Jeffrey Benkoe