Trump ponders new tariffs on foreign vehicles - Wall Street Journal

Joshua Gibson FXStreet

As reported by the Wall Street Journal, US President Trump and his administration are weighing possible tariffs on imported vehicles, citing national security concerns.

The Trump administration has leaned on the Section 232 provision frequently, using the national security measure to impose hefty steel and aluminum tariffs this year.

Before a tariff on import cars can be enacted, a lengthy investigation by the US Department of Commerce must be completed. The Commerce Department is expected to deliver details of a plan for an investigation late Wednesday, and as the Wall Street Journal noted, "on Wednesday morning, Mr. Trump teased new steps. “There will be big news coming soon for our great American Autoworkers,” tweeted Mr. Trump. “After many decades of losing your jobs to other countries, you have waited long enough!” "

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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