US may delay auto tariffs after “good conversation” with EU, Japan & Korea

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US may delay auto tariffs after “good conversation” with EU, Japan & Korea

On Sunday, the 3rd of November 2019, animating outlooks of a struggling automotive markets across the globe amid a broader decline in auto sales, the US Commerce Secretary, Wilbur Ross said in an interview with Bloomberg that the United States might contemplate a delay in tariff hike on imported vehicles later this month following “good conversations” with a basket of automotive industry leaders from EU, South Korea and Japan.

In point of fact, latest comment of US Commerce Secretary, Wilbur Ross came forth amid a time when the United States must decide before November 14th on whether to incline an additional duty of 25 per cent on imported vehicles and parts over possible breach of US national security.

Nonetheless, the tariffs had already been delayed for six months earlier this year, while a similar incident could take place again, multiple industry experts said following Ross’s Sunday (November 3rd) interview with Bloomberg.

Meanwhile, adding the US President Donald Trump alongside his Administration were expecting to avoid an additional tariff following progresses in talks over capital investment plans with the automakers, Ross said in Sunday’s (November 3rd) Bloomberg interview, “We have had very good conversations with our European friends, with our Japanese friends, with our Korean friends, and those are the major auto producing sectors.

Our hope is that the negotiations we have been having with individual companies about their capital investment plans will bear enough fruit that it may not be necessary to put the 232 (tariffs) fully into effect, may not even be necessary to put it partly in effect. ”