Technology: The Trump administration reportedly plans to delay slapping tariffs on autos by up to 6 months - PressFrom - Canada
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TechnologyThe Trump administration reportedly plans to delay slapping tariffs on autos by up to 6 months

18:48  15 may  2019
18:48  15 may  2019 Source:   msn.com

McNaughton still ‘confident’ steel, aluminum tariffs will be gone within weeks

McNaughton still ‘confident’ steel, aluminum tariffs will be gone within weeks "These tariffs are hurting them," David McNaughton said of the impact on American farmers and producers.

The Trump administration plans to delay auto tariffs by up to six months , stopping itself for now from widening global trade disputes, four sources told CNBC. The White House faces a Saturday deadline to decide whether to slap duties on car and auto part imports over national security concerns.

The Trump administration will hold off on imposing tariffs on auto imports for the time being, Bloomberg News reported Tuesday night. For months , President Donald Trump has threatened tariffs of up to 25% on foreign autos , and reports that they were being considered again hurt shares

The Trump administration reportedly plans to delay slapping tariffs on autos by up to 6 months© Reuters/Rebecca Cook
  • The Trump administration plans to delay auto tariffs by up to six months, according to multiple news outlets.
  • The reports sent shares of Ford, General Motors, Tesla, and Daimler higher on Wednesday.
  • Visit Markets Insider for more stories.

The Trump administration plans to delay auto tariffs by up to six months, multiple news outlets reported on Wednesday, citing anonymous sources. The reports sent auto stocks higher on Wednesday.

President Donald Trump is expected to delay tariffs on auto imports, Bloomberg initially reported, citing US officials. Reuters and CNBC later reported the same plan was expected, citing three administration officials and four sources, respectively.

Ottawa considering new retaliation to end U.S. tariff fight, source says

Ottawa considering new retaliation to end U.S. tariff fight, source says Canada is considering new ways to retaliate against the United States in the hopes of getting steel and aluminium tariffs lifted.

But Trump ’s senior economic advisers are almost universally opposed to slapping new tariffs on auto imports And while Trump can brag that he is standing up for American workers Nervous Trump officials have already discussed searching for ways to delay the decision, possibly for several months .

President Donald Trump will impose 10 percent tariffs on 0 billion worth of Chinese imports, and those duties will rise to 25 percent at the end of the year. The action, announced by the Trump administration Monday, escalates a trade conflict between the world's two largest economies.

The headlines sent shares of Ford, General Motors, Tesla, and Daimler higher in midday trading.

Wednesday's report comes at a tense moment for US-China relations as the trade war between the two world powers escalated this week. China on Monday said it would implement tariffs on about $60 billion worth of US goods, in a retaliatory measure that followed President Donald Trump's

This story is developing. Check back for updates.

U.S.-China Trade War Threatens To Shrink Canada's Economy By Enough To Kill 150,000 Jobs: BMO.
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