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Trump Receives Report on U.S. Security Threat of Auto Imports

(Bloomberg) – President Donald Trump has received the findings of a probe into whether imported vehicles pose a national security threat, which could lead the U.S. to impose tariffs. Commerce Secretary Wilbur Ross has submitted his recommendations to Trump, the department said in a statement on Sunday in Washington, without offering any insights into the findings. Trump has 90 days to decide whe

An auto trade war would deal a blow to carmakers from General Motors Co. to Toyota Motor Corp., which have built their supply chains to take advantage of countries with low duties. The National Automobile Dealers Association estimates that the tariffs would add as much as $2,270 to the cost of U.S.-built cars and $6,875 to the cost of imported cars and trucks. “Auto tariffs would be a disaster,”

Trump has 90 days after officially receiving the report to decide whether to act should the department conclude that auto imports are a security threat. Commerce could recommend a variety of options to restrict imports, including implementing tariffs and quotas. The president then has 15 days to act after announcing he will move forward with measures.

Trump has agreed not to impose auto tariffs on Europe while the two sides work on a trade deal, and Canada and Mexico negotiated side letters to the U.S.-Mexico-Canada Agreement that spares them from new U.S. duties on cars, subject to a cap.

https://www.bloombergquint.com/global-economics/trump-receives-report-on-u-s-security-threat-of-auto-imports#gs.qVSDsgVm