U.S. President Donald Trump on Friday threatened to impose tariffs on European Union cars if the bloc does not drop its tariff on American lobsters, naming White House trade adviser Peter Navarro the "lobster king" in charge of talks. Trump, speaking at an event with commercial fishermen, also asked Navarro to identify Chinese products to hit with tariffs unless Beijing dropped its duties on American lobsters.
U.S. Commerce Secretary Wilbur Ross said on Tuesday the Trump administration has not ruled out imposing tariffs on imported autos, after letting a review period end in November with no action. U.S. President Donald Trump did not announce any new tariffs after a six-month, self-imposed review period expired in mid-November following a Commerce Department "Section 232" investigation into whether imported autos pose a national security threat.
U.S. electric vehicle maker Tesla Inc will raise prices in China on Friday, earlier than planned, and is considering increasing prices again in December should Chinese tariffs on U.S.-made cars take effect, people familiar with the matter said. A Tesla representative did not immediately respond to Reuters' request for comment on Monday. It currently imports all the cars it sells in China and has had to adjust prices multiple times over the past year due to tariff changes.
The United States and Japan have reached the broad framework of a trade agreement, with Washington maintaining tariffs on Japanese autos but Tokyo cutting tariffs on U.S. beef and pork, Japan's Nikkei business daily said on Saturday. U.S. Trade Representative Robert Lighthizer and Economy Minister Toshimitsu Motegi reached the deal on Friday in Washington, and it will be announced at a meeting of President Donald Trump and Prime Minister Shinzo Abe expected on Sunday on the sidelines of the Gro
The European Union will retaliate with extra duties on 35 billion euros (£31.4 billion) worth of U.S. goods if Washington imposes punitive tariffs on EU cars, the bloc's trade chief said on Tuesday. "We will not accept any managed trade, quotas or voluntary export restraints and, if there were to be tariffs, we would have a rebalancing list," European Trade Commissioner Cecilia Malmstrom told a committee of the European Parliament. U.S. President Donald Trump declared in May that some imported
Tesla said domestic sources can't meet its quantity and quality requirements.
Tariffs 'are hereby indefinitely suspended,' Trump tweets.
Mexico sends 600,000 to 700,000 barrels of oil to the U.S. every day.
He also spoke about European trade relations.
U.S. tariffs could add thousands of dollars to the cost of automobiles.
H-D expects to ship 222,000 units globally in 2019, the lowest since 2010.
'We are prepared to put our vehicle tariffs on the negotiating table.'
Washington seeks more equitable trade in motor vehicle sector.
BMW builds SUVs in South Carolina and exports them to China.
Because of trade war, some SUV production could move there from the U.S.
It falls short of 6,000 cars per week, but quarterly number's on the mark.
The CEO says if the trade war goes on, "there will be more damage."
Analysts predict 'bad news for consumers' and a 'downward cycle' for the industry.