Trump seen likely to delay European auto tariff decision – Volkswagen AG ADR (OTCMKTS:VWAGY)


    European Union officials say they expect Pres. Trump later this week will announce another delay in making a decision whether to slap tariffs on cars and auto parts imported from bloc.

    The Trump administration has set a Thursday deadline to decide whether to impose threatened “Section 232” national security tariffs of as much as 25% on imported vehicles and parts under a Cold War-era trade law.

    While a six-month delay is likely, Trump likely will keep the threat of car tariffs as leverage as the U.S. and E.U. pursue trade negotiations, the consensus thinking goes.

    U.S. Trade Representative Lighthizer and E.U. Trade Commission Malmstrom are said to have spoken more often and in a more positive tone in recent weeks.

    Relevant tickers include OTCPK:VWAGY, OTCPK:BMWYY, OTCPK:DMLRY, CARZ

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