US Likely To Postpone Auto Tariff Decision: Industry Sources
Umer Jamshaid Published November 13, 2019 | 09:20 AM
Washington, (UrduPoint / Pakistan Point News - 13th Nov, 2019 ) :The Trump administration plans to issue a deferral this week on its decision about whether to impose additional tariffs on imported cars, two industry sources told AFP Tuesday.
The delay could last up to another six months, the sources said, with the announcement expected Wednesday or later.
President Donald Trump "doesn't have to make this decision tomorrow," one of the sources said.
The Trump administration has been threatening since last year to impose tariffs of perhaps 25 percent on auto imports to defend the US automaking sector, a symbol of American manufacturing.
Trump already postponed the auto tariff decision -- the threat of which has caused uncertainty in the European car industry, especially in Germany -- for 180 days in May.
In September, the administration reached an agreement with Japan to continue suspending auto tariffs while talks continued.
And Washington and South Korea reached an agreement last year in which Seoul has promised to further open its own market to US automakers.
US Commerce Secretary Wilbur Ross, who was the one who had raised national security concerns as a reason for imposing new tariffs in the first place, said this month that additional import fees might not be necessary after "very good conversations" with automakers in the EU, Japan and elsewhere.
"Our hope is that the negotiations we've been having with individual companies about their capital investment plans will bear enough fruit that it may not be necessary" to launch a so-called Section 232 investigation, Ross told Bloomberg Television.
The industry sources AFP spoke to Tuesday also indicated the administration's desire for concessions as part of possible agreements -- investments, in other words.
But companies such as Germany's BMW could be hesitant to engage in such concessions, as the automaker is already expanding in the US and so would be less affected by new tariffs anyway.
Outgoing European Commission President Jean-Claude Junker said in an interview with German press last week that he believed that the US would not impose new tariffs on European cars in the coming days.
Neither the White House nor other officials from the Trump administration responded to AFP's requests for more information.
Related Topics
Recent Stories
Bugti assures transporters for addressing their problems
Deputy Prime Minister and Foreign Minister, Mohammad Ishaq Dar meets foreign min ..
3 drug peddlers arrested, hashish recovered
1496,990 children given polio drops in five days: DC
Six terrorists killed, hideout busted in N Waziristan IBO: ISPR
Pakistan, Qatar agree to further expand trade, investment ties
Sindh cabinet approves Rs177.5m to strengthen, mobilize various wings of police
Faisal Karim Kundi takes oath as new KP Governor
Azad Jammu and Kashmir Prime Minister Anwaar ul Haq Chaudhry seeks more vibrant ..
Tahaffuz Manzil Foster Home providing care & support to homeless children
PCB proposes April 7 -May 20 window; tweaks in rules for HBL PSL 2025
Field hospitals now operational across Punjab: Azma Bukhari
More Stories From Miscellaneous
-
American band promotes intercultural harmony thru music fusions
12 hours ago -
Waste Management – A persistent challenge for MWMC
2 days ago -
Experts for ending child labour
4 days ago -
Labour Day - A reminder for better facilities to workers
4 days ago -
Stage Drama Mohabati Manhoon presents in Arts council Larkana
6 days ago -
Wheat farmers in a fix on price, procurement mechanism
7 days ago
-
Modern tools to help transform crime investigation procedures
7 days ago -
Sanam Marvi captivates audience with mesmerizing performance
7 days ago -
Modern Education Techniques: A pathway to achieve economic development
9 days ago -
Kite Flying: From cultural festival to deadly sport
9 days ago -
PDMA predicts gusty wind, rain with thunder, hails
11 days ago -
Iranian president Raisi given guard of honour at PM House
13 days ago