Daily Management Review

US may reconsider tariffs on imported cars


The US presidential administration may completely abandon the increase in tariffs on imported cars, said the country's Minister of Commerce Wilbur Ross. According to him, there is a possibility that the tariffs will not be needed after “good negotiations” with Japanese, European and South Korean carmakers.

“We hope that the negotiations we have with individual companies regarding their capital investment plans will bear enough fruit so that there will be no need (to increase fees),” Mr. Ross said in an interview with Bloomberg Television.

Recall, the administration of the U.S. President Donald Trump began to discuss the introduction of increased duties on car imports in 2018. This idea was justified by national security. Cecilia Malmström, head of the EU trade department, said the EU would be forced to retaliate. In May 2019, the United States postponed the decision to impose tariffs on imported cars and spare parts for 180 days.

Earlier, the Minister of Economics and Energy of Germany Peter Altmaier said that the EU is ready to reduce to zero duties on cars that are imported from the United States.

source: bloomberg.com