U.S. President Donald Trump on Wednesday said new auto tariffs are “being studied now,” asserting they could prevent job cuts such as the U.S. layoffs and plant closures that General Motors Co announced this week.
The U.S. Commerce Department has circulated draft recommendations to the White House on its investigation into whether to impose tariffs of up to 25 percent on imported cars and parts on national security grounds. The White House has pledged not to move forward with imposing tariffs on the European Union or Japan as long as it is making constructive progress in trade talks.
Read the article at Business Insider.
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