German automakers may be ready for EU to drop tariffs on U.S. cars
Wilbur Ross says the ultimate goal of tariffs is getting others to lower theirs.
Trump threat is 'against all the logic of modern economies that trade with each other.'
He again raises the threat of tariffs on auto imports
Our allies' view: "No leader is forever."
Hint: It's the autoworkers the president says he's helping.
Tariffs of up to 25 percent.
So apparently he's referring to NAFTA, but it's nowhere close to a deal.
China will steeply cut import tariffs for automobiles and car parts, opening up greater access to the world's largest auto market amid an easing of trade tensions with the United States.
U.S. President Donald Trump is meeting 10 major automakers at the White House on Friday to discuss the fate of landmark fuel efficiency standards and a looming confrontation with California and other major states.
Ford Motor Co's imported vehicles are being held up at Chinese ports, three people with knowledge of the matter told Reuters, underscoring how U.S. goods are facing increased customs scrutiny in China amid a tense trade standoff.
Major automakers are telling the Trump administration they want to reach an agreement with California to avoid a legal battle over fuel efficiency standards, and they support continued increases in mileage standards through 2025.
U.S. President Donald Trump has postponed the imposition of steel and aluminum tariffs on Canada, the European Union and Mexico until June 1, and has reached agreements for permanent exemptions for Argentina, Australia and Brazil, the White House said.
The Trump administration is likely to propose freezing fuel economy standards from 2020 through 2026, according to three people briefed on the matter, a move likely to spark a fight with California and other states backing tougher vehicle emissions rules.
Chinese President Xi Jinping promised on Tuesday to open the country's economy further and lower import tariffs on products starting with cars, in a speech seen as an attempt to defuse an escalating trade dispute with the United States.
The Trump administration is considering ways to require imported automobiles to meet stricter environmental standards in order to protect U.S. carmakers, according to two sources familiar with the administration's thinking.
China warned on Friday it would fight back "at any cost" with fresh trade measures if the United States continues on its path of protectionism, hours after President Donald Trump threatened to slap tariffs on an additional $100 billion in Chinese goods. This atop the $50 billion in tariffs detailed by the U.S. earlier this week, which were immediately met by an equal amount from China.
U.S. aerospace companies, automakers, grain merchants and chipmakers were the early casualties on Wednesday after China and the United States announced tariffs on $50 billion of imports, cementing fears they were spiraling toward a trade war.
'Mistaken prescription,' China says; Europe readies trade-war 'arsenal'