The US may still introduce tariffs for the European auto industry, CNBC reported referring to the US Secretary of Commerce Wilbur Ross.
President Trump threatens to introduce 25% tariffs on imports of European cars and auto parts. This threatis still on the table.
“We are eager to make a peaceful resolution with the EU,” Commerce Secretary Wilbur Ross said at a press conference. “But the president, as you heard yesterday, also made it very clear that if that doesn’t work, he would go a different direction,” Ross said.
Ross noted Trump decided that while the talks were bearing fruit, he would continue to negotiate. “He has not ruled out putting tariffs if the negotiations fail,” Ross said.
The US wants a new trade deal with Europe before the US elections later this year.