(Damian Paletta – Washington Post)
Several of President Donald Trump’s senior economic advisers believe he plans to impose a 25 per cent tariff on close to US$200 billion in foreign-made automobiles later this year, three people briefed on discussions said.
Trump wants to move forward despite numerous warnings from GOP leaders and business executives who have argued that such a move could damage the economy and lead to political mutiny.
But Trump has become increasingly defiant in his trade strategy, following his own instincts and intuition and eschewing advice from his inner circle. He has told advisers and Republicans to simply trust his business acumen, a point he tried to reinforce Wednesday morning in a Twitter post. Click here to read more.
- Trump Reportedly Considering 25 Percent Tariff on Foreign-Made Cars (CNBC)
- Trump Said to Push for Tariff Action on Foreign Cars Ahead of Midterms (Politico)
- Auto Manufacturing Industry to Ask for ‘Trade Assistance’ if Tariffs Are Imposed (CBC News)
- Message From CEO of Cummins: Tariffs Are Going to Hurt American Companies (New York Times)
- Sen. Doug Jones Co-Sponsors Bill to Stave Off Trump's Auto Tariffs (AL.com)