U.S. President Donald Trump on Wednesday stated that he would make a decision soon if he should impose tariffs on cars and auto parts imported into the United States but provided no further details.
“I’ll make a decision soon, fairly soon,” he informed reporters at the White House, one day ahead of a deadline to act.
The president is weighing if he should impose the tariffs on vehicles and parts imported from the European Union, Japan and South Korea, although EU officials stated they expect Trump to announce a delay this week.
Discussing with reporters at the White House at the beginning of a meeting with Turkish President Recep Tayyip Erdogan, Trump stated he had been briefed by his administration on the issue of auto tariffs although he didn’t elaborate on his decision or the possible timing.
Trump’s administration faces a Thursday deadline with regards to “Section 232” national security tariffs of about 25% on imported vehicles and parts under a Cold War-era trade law.
U.S. and EU sources on Friday stated they expect Trump to delay a decision on the auto tariffs for another 180 days, permitting them enough time for negotiation with the EU and Japan on automotive trade barriers.
But they cautioned that no company decision had been made and that the president was the ultimate authority. Auto industry executives also are expecting further delay in the decision
Trump stated he wanted to boost U.S. trade with Turkey, now about $20 billion a year.
“We think that number should be easily $100 billion, which would be great for Turkey and great for us,” Trump stated.