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Politics : The Trump Presidency

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From: Ron	5/24/2018 8:27:01 AM
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Miffed Trump threatens auto tariffs TRUMP THREATENS AUTO TARIFFS — President Trump was not at all happy with the way the Chinese negotiations played in the press with nationalists and China hawks savaging him for getting essentially nothing. So he was back in a tariff-threatening mode on Wednesday and directed Commerce Secretary Wilbur Ross to undertake a national security review (under Section 232 of the Trade Expansion Act of 1962) on imported automobiles. Trump is interested in tariffs on imported autos of up to 25 percent, people close to him say, a shockingly high figure that sent shockwaves through the auto industry when first reported by the WSJ on Wednesday. As with everything else, the review, which will take weeks, could lead to nothing. But it interjects yet another bit of uncertainty both into the auto sector and the economy more broadly. It joins the continuing threat of a China trade war and a NAFTA collapse to the list of worries for markets and manufacturers. politico.com

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