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
Higher taxes, awareness help decrease cigarettes sale in Pakistan
Sindh Minister of Works and Services Ali Hassan Zardari reviews ongoing projects ..
7 ordinances laid in Senate
Implementation of Naan, Roti's revised rates being ensured
Police attack case: ATC discharges PTI leader
Ahsan Iqbal chairs CPEC JWGs, 13th JCC review-meeting
Allama Iqbal gave Muslim Ummah a new dimension of thinking, hope: Dar
SNGPL takes action against 11 gas pilferers
Five numberdars dismissed in Jhang
Industries Minister recommends urea fertilizer import to stabilize prices and su ..
Honda announces US$11 bn EV battery and vehicle plant in Canada
CM lauds TCF's journey from 5 schools to 2000 across country
More Stories From Miscellaneous
-
PDMA predicts gusty wind, rain with thunder, hails
2 days ago -
Iranian president Raisi given guard of honour at PM House
3 days ago -
Intellectuals, writers accolades Naseer Mirza on his literary contribution
4 days ago -
Bahawalpur Adabi Sangat hosts memorable mushaira
4 days ago -
Cattle farming vital to alleviate poverty in rural areas
4 days ago -
Pakistan: A land of tourism, archeological wonders
5 days ago
-
Transforming education sector: from job hunters to job creators
6 days ago -
Amjad Bobby remembered on 19th death anniversary for timeless contributions to music
10 days ago -
Legendary actor Nadeem’s 26 films released on Eid-ul-Fitr days in 50 years
11 days ago -
Besant Hall Cultural Centre to celebrate evening with Sanam Marvi on 26 April
11 days ago -
Radio Bahawalpur presents program “Eidi Shidi”
14 days ago -
Radio Bahawalpur to broadcast Eid programs
16 days ago