U.S. has not ruled out imposing tariffs on imported autos
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U.S. has not ruled out imposing tariffs on imported autos

More protectionist moves from the U.S.? The U.S. says, it has not ruled out imposing
tariffs on auto imports… after letting a review period end in November with no action. Our Hong Yoo reports. The U.S. Department of Commerce has been having
negotiations with individual auto companies during the review period for imposing any
new tariffs on imported automobiles. And U.S. Commerce Secretary Wilbur Ross says
the U.S. had some “very good benefits” from those negotiations. During an interview with Reuters on Tuesday,
Ross said “It may or may not turn out there is any need for the tariff.” President Trump had previously threatened
a 25 percent tax on imported autos in mid-May but decided to have a review period until
mid-November. The U.S. Commerce Department has engaged in
a “Section 232” investigation during that review period to find whether imported autos
from places such as Japan, the EU, and South Korea pose a national security threat. If they do, the U.S. could limit imports or
impose high tariffs. Auto experts have said that such tariffs are
targeted at European and Japanese auto manufacturers. South Korean autos were not mentioned directly,
but one of the reasons why the U.S. postponed imposing the tariffs was to review the recent
renegotiations of the South Korea-U.S. trade agreement and the U.S.-Mexico-Canada trade
agreement. A month ago, Ross had said the Trump administration
might not need to put Section 232 into effect because they have had a “very good conversation”
with their European, Japanese and Korean friends. But his sudden change of tone could be interpreted
as support for Trump’s expansion of protectionist moves, with Trump imposing metal tariffs on
Brazil and Argentina. When asked if there is a new deadline for
the auto tariff announcement, Ross did not give any details of the specific date or contents
of any announcement. Hong Yoo, Arirang News.

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