So far no new tariffs on EU cars
Author: Marcus Schilling
Trump postpones decision on special duties
US President Donald Trump has postponed his announced special tariffs on car imports, including those from the EU. Negotiations on possible new tariffs will take six months. The postponement is valid for 180 days, according to a proclamation by the president published on Friday.
A decision on higher taxes on car imports should be made in advance by 18 May: In mid-February, the US Department of Commerce issued a report on an investigation as to whether car imports pose a threat to US national security. After this report was presented to the White House, Trump had 90 days to decide on special tariffs.
German car manufacturers in particular would have been affected by the special levies. A large proportion of European deliveries are made to the USA. In addition, manufacturers such as VW, Daimler and BMW as well as suppliers have their own locations in the USA. The Chinese market, among others, is supplied from there. In China, further punitive measures would be threatened because of the Chinese counter-tariffs.
Trump has been bothered by the EU’s trade policy for some time now. He is particularly annoyed by the presence of German cars in the USA. Investors reacted relieved to the postponement: the Dax was able to compensate for its losses.