Trump plans may impose new tariffs on imported vehicles

Trump plans may impose new tariffs on imported vehicles

President Donald Trump has ordered a national security probe into vehicle imports, which could bring new tariffs.

A similar investigation launched a year ago resulted in a 25 percent tariff on imported steel and a 10 percent tariff on imported aluminum, although in many cases those tariffs have been suspended while the USA negotiates with exporting countries. "After many decades of losing your jobs to other countries, you have waited long enough!"

The Trump administration is threatening to impose tariffs of up to 25 per cent on imported vehicles, a move that would all but destroy Canada's auto sector and cranks up the pressure in deadlocked NAFTA negotiations.

U.S. President Donald Trump waves as he arrives aboard Air Force One at John F. Kennedy International Airport in NY, U.S., May 23, 2018. Trump has been a frequent critic of vehicle imports, blasting Ford and other automakers for building vehicles in Mexico and shipping them into the U.S.

But he says, "we will win and will win big".

"I think your autoworkers and your auto companies inthis country are going to be very happy with what's going tohappen", Trump told reporters when asked about the tweet later inthe day.

It would also affect Honda Motor Co. The United States is the second-biggest export destination for German auto manufacturers after China, while vehicles and car parts are Germany's biggest source of export income.

Trump, who has pledged to revive American manufacturing, has launched a series of trade actions, demanding China import more American goods, starting talks to renegotiate NAFTA and imposing tariffs on steel and aluminum imports.

The initiation of the trade investigation could be seen as an attempt to gain leverage in the talks with the two USA neighbors.

The Detroit-based companies - as well as many offshore-based auto makers such as BMW AG and Volkswagen AG - also have large vehicle assembly operations in Mexico that would be subject to such a tariff.

But the source said it is meant only as a pressure tactic to push Canada and Mexico for a better deal on NAFTA, and to press other countries that are now negotiating exemptions from US steel and aluminum tariffs. At the same time, the United States exported almost 2 million vehicles worldwide worth $57 billion.

Commerce will now have to produce a report detailing whether auto tariffs would fit under the national security provisions.

Trade representatives from Canada, Mexico and the USA continue negotiating a revised NAFTA agreement.

The White House notified auto industry groups late Wednesday afternoon that an announcement would be coming soon, another person familiar with the matter said.

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