Senator: Trump 'inclined' to impose new US auto tariffs – Reuters

Dhwani Mehta FXStreet

Reuters reports the latest comments delivered by the US Senate Finance Committee Chairman Charles Grassley late-Wednesday, citing that the US President Trump is considering to go ahead with tariffs on imported vehicles.

This move could prompt the European Union to agree a new trade deal, Grassley noted.

Key Quotes:

“I think the president’s inclined to do it.”

“I think Europe (is) very very concerned about those tariffs ... It may be the instrument that gets Europe to negotiate.”

Did not like new tariffs but “they are a fact of life when Trump is in the White House.”

They may have been an “effective tool” in getting China, Canada, Mexico and others to negotiate on trade.

Meanwhile, Grassley said that the US Trade Representative Lighthizer did not see any progress on structural issues during the US talks with China last week on the issues that include intellectual property, stealing trade secrets and putting pressure on corporations to share information.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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