Trump likely to use 2019 trade probe to justify 25% auto import tariffs

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Trump likely to use 2019 trade probe to justify 25% auto import tariffs - Business Standard

Quick Summary:

The US president has long promised higher duties on imported cars, and the announcement's timing suggests that they would coincide with his separate, April 2 plans for reciprocal tariffs aimed at the countries responsible for the bulk of the US trade deficit.

Trump has long railed against what he calls the unfair treatment of US automotive exports in foreign markets, often singling out the European Union, which collects a 10 per cent duty on vehicle imports, four times the US passenger car tariff rate of 2.5 per cent.

An auto import tariff of 25 per cent - the level floated by Trump in February - would send shockwaves through a global industry that is already reeling from uncertainty caused by Trump's rapid-fire tariff threats and occasional reversals.