Has Trump Forgotten About Tariffs on EU Cars?

EU officials are breathing a tentative sigh of relief as the deadline for imposing tariffs on EU cars passed by without any mention about this getting US President Donald Trump. After the latest extension, Trump was to take a call on this by November 14 and expectations were high that he would announce one more extension instead.

Maybe because the US government is consumed by the US-China trade deal, for now, they seem to have missed out on these tariffs. Trump had previously threatened to impose tariffs on cars imported from the EU, Japan and South Korea over charges of comprising national security.

During a meeting of EU trade ministers in Brussels, trade chief Cecilia Malmstrom expressed cautious optimism, remarking, “That’s why I’m still a little bit cautious, but… the deadline has passed and there are severe legal limitations for the president to take further action.”

EU officials are presently anticipating that the agreement reached between Trump and European Commission chief Jean-Claude Juncker to boost economic ties is the reason for the tariffs being put off. Negotiations continue on the issue of conformity assessment which when resolved would help both regions meet each other’s market standards and enter each other’s markets more easily.

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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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