Europe Will Punch Back Against Any U.S. Car Tariff: EU Trade Commissioner

It’s been a trade-heavy week. Earlier, the White House decided to postpone any major tariff decisions following a discussion with the Commerce Department over a draft report on the impact of auto imports, giving trade representatives from the United States and European Union room to talk.

Unfortunately, things don’t appear to have gone swimmingly. European Trade Commissioner Cecilia Malmström left her Wednesday meeting with U.S. Trade Representative Robert Lighthizer promising that the EU would have retaliatory tariffs at the ready if America pulls the trigger on auto import duties. However, she also said some progress was made during her talk with Lighthizer, but had nothing conclusive to announce

Negotiating with the EU has grown difficult and, frankly, the automotive aspects have become less important of late. The European Union is now discussing the possibility of creating its own army, leaving president Trump to tweet angrily about historical precedents.

Read more
Trade War Watch: Trump Reportedly Delaying Auto Tariffs, Clock Still Ticking

The Trump administration was supposed to make an announcement Tuesday as to whether or not imported automobiles pose a national security risk, following discussions with trade representatives. While it wasn’t presumed that the White House would say anything truly definitive or hold a formal press conference on the issue, it was assumed that the president would take a stronger public stance either for or against an earlier proposal to raise foreign auto import tariffs to 25 percent. And it has, in a way.

According to those familiar with the matter, the White House decided to postpone any major decisions after discussing a draft Commerce Department report on the impact of auto imports with trade reps. However, the administration doesn’t have forever to make up its mind. Nor does its trading partners, which could be the point.

Read more
  • ToolGuy Real estate, like cars: One of the keys (and fairly easy to do) is to know which purchase NOT to make. Let's see: 0.43 acre lot within shouting distance of $3-4 million homes. You paid $21.8M in 2021, but want me to pay $35M now? No, thank you. (The buyer who got it for $8.5M in 2020, different story, maybe possibly.) [Property taxes plus insurance equals $35K per month? I'm out right there lol.] Point being, you can do better for that money. (At least the schools are good? Nope lol.)If I bought a car company, I would want to buy Honda. Because other automakers have to get up and go to work to make things happen, but Honda can just nap away because they have the Power of Dreams working for them. They can just rest easy and coast to greatness. Shhhh don't wake them. Also don't alert their customers lol.
  • Kwik_Shift_Pro4X Much nicer vehicles to choose from for those coins.
  • Jeff If this is sold in America at 90k it will be bolted to the dealer lots. If 60k to 90k ICE full size crew cab pickups are not selling as well this definitely will not sell. Also 90k for a KIa is ridiculous.
  • KOKing For that money there are some great oceanfront properties that aren't gonna slide downhill after the next massive rain. And the property will likely continue to appreciate the way things are out here. But the company is probably past saving.
  • Add Lightness Let's be real, this $C162,000 truck will only ever be used to it's limits by it's civilian owner in the middle east and then only for a few days until the thrill wears off and it's on to the next halo truck.