Trump's new US auto tariff proposal to weigh on risk
|The WSJ has run an article in recent trade which could be a weight on market sentiment as trade war risk comes back to the fore.
"The Trump administration is looking into using national-security laws to impose new tariffs on vehicle imports, according to administration officials and industry executives briefed on the plan.
President Donald Trump has asked his team to investigate using a legal provision known as “Section 232” of the 1962 Trade Expansion Act to find whether tariffs or other restrictions are needed on imported cars. It is the same legal justification the administration used to impose tariffs on steel and aluminum imports in March,"
- the WSJ wrote.
Previously, Trump's administration had also imposed hefty import tariffs on steel and aluminum under Section 232 of the 1962 U.S Trade Expansion Act, which allows safeguards based on “national security.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.