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US Minister: Negotiations alternative to EU car taxes

2019-10-23T06:54:40.483Z

The US Secretary of Commerce, Wilbur Ross, thinks it is possible to prevent the imposition of charges on European cars, he says in conversation with the Financial Times. Further negotiations could be an alternative.



The US Secretary of Commerce, Wilbur Ross, thinks it is possible to prevent the imposition of charges on European cars, he says in conversation with the Financial Times . Further negotiations could be an alternative.

Earlier this year, US President Donald Trump announced that imported cars and car parts could pose a threat to US security.

This allows him to impose taxes on foreign goods, but he has postponed this decision until November.

Ross says that Trump is considering three options. He simply cannot do anything, set levies on some or all countries or continue to negotiate. The minister further said that Trump still has many alternatives and that the outside world should not speculate what conclusion the president will come to.

Possibly a big damper for car manufacturers

For European car manufacturers, higher American import rates would be a significant damper. The automakers are already suffering from a drop in demand in, for example, China, the largest car market in the world.

Last week, new US taxes were levied on $ 7.5 billion of European goods that the US imports. This was a retaliation measure, approved by the World Trade Organization, for illegal state aid from European governments for aircraft maker Airbus.

See also: US import duties go in, Europe threatens with countermeasures

Source: nunl

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