US auto tariff decision delayed by NAFTA talks: Ross

Image
AFP Washington
Last Updated : Aug 21 2018 | 7:55 PM IST

The United States is holding off on a final decision on whether to impose tariffs on auto imports as trade talks with Mexico, Canada and Europe are ongoing, Commerce Secretary Wilbur Ross said.

In an interview with the Wall Street Journal on Monday, he said it is "not clear the report will be out at the end of the month ... in view of the negotiations" to revise the North American Free Trade Agreement (NAFTA).

Washington also is in talks with the European Union after President Donald Trump reached an agreement with EU chief Jean-Claude Juncker in late July to avoid the auto tariffs in exchange for a new deal on duty free trade between the two economies.

Citing national security concerns, Trump in May had ordered Commerce to investigate the possibility of imposing tariffs of up to 25 per cent on foreign autos and auto parts, a prospect that alarmed the industry.

The department collected over 2,000 written comments from diverse industry representatives and car enthusiasts calling on the administration to scrap the tariff plan, and dozens more testified at a public hearing in late July.

Ross told the Wall Street Journal the volume of comments also is a factor delaying the final report, saying the department received "zillions of pages" from car companies and "We're running out of August."

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Aug 21 2018 | 7:55 PM IST

Next Story