Trump Administration Officially Delays Auto Tariffs By At Least Six Months
After discussions all week over whether or not to levy the duties, citing a national security threat, the Trump Administration has officially postponed auto tariffs as it tries to reach trade agreements with the European Union and Japan.
The White House had until Saturday to decide whether to slap duties on autos. By law, the administration can push back its decision by up to six months if it is negotiating with trading partners. Levying auto tariffs potentially threatened to open new fronts in a global trade war that could drag down the U.S. economy. The EU has already put together a list of American goods to target with tariffs if Trump moves forward with the car duties.