Trump’s Auto Tariffs Put On Hold

Auto tariffs are going to have to wait.

CNBC reports:

“The Trump administration will delay tariffs on cars and auto part imports for up to six months as it negotiates trade deals with the European Union and Japan.

In a proclamation Friday, Trump said he directed U.S.Trade Representative Robert Lighthizer to seek agreements to “address the threatened impairment” of national security from auto imports. Trump could choose to move forward with tariffs during the talks.

‘United States defense and military superiority depend on the competitiveness of our automobile industry and the research and development that industry generates,’ White House press secretary Sarah Huckabee Sanders said in a statement. ‘The negotiation process will be led by United States Trade Representative Robert Lighthizer and, if agreements are not reached within 180 days, the President will determine whether and what further action needs to be taken.’

In his proclamation, Trump argued in part that ‘domestic conditions of competition must be improved by reducing imports.'”

For the rest of the story, visit CNBC here.

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