Published: Mon, May 20, 2019
Global News | By Blake Casey

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President Donald Trump's decision to delay imposing tariffs on the European Union's auto industry comes as a welcome relief to automakers, but the threat will hang over EU-U.S. trade relations and business sentiment in the region this year.

The US Commerce Department submitted a report to the president in February on the effects of such imports on the auto industry, and whether tariffs should be increased. Opening a new front in the trade wars against European Union and Japan likely would have anxious investors even more.

Although Donald Trump made the widely expected choice not to impose tariffs immediately, the statement on Friday said he "took historic action" in issuing a proclamation that directs the United States trade representative to negotiate agreements to address a national security threat that is causing harm to the United States automobile industry.

"Within 180 days. the Trade Representative shall update me on the outcome of the negotiations", he said in a proclamation issued by the White House.

Trump threatened to introduce tariffs on imported automobiles and spare auto parts a year ago.

'By boosting auto prices across the board and driving up vehicle fix and maintenance costs, tariffs are essentially a massive tax on consumers, ' said the alliance.

Trump said the proposal would also limit family-based sponsorship to children and spouses of United States citizens.

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Later in the day, he is expected to be in Badrinath, another temple in Uttarakhand's "char dham" religious circuit. It is unfortunate that the poll body has not taken any action against the PM, he added.

"I actually think the president is right to challenge China", he said. The U.S. accuses Beijing of stealing trade secrets and forcing American companies to hand over technology in a head-long push to challenge American technological dominance.

According to Bloomberg Economics, 0.4 percent of all value produced in the euro area ends up in cars and vehicle parts exported to US, and 8.6 percent of the transport industry output.

Trump also said the sheer number of imports has weakened the US economy and hurts domestic automakers. "We won't anymore, once we get this passed", he said.

The auto tariffs face strong opposition in Congress, including from many prominent Republicans.

As the White House eased tensions with Canada and Mexico, it continued to pressure allies elsewhere, including Europe and Japan.

The reports cited statistics that US-owned companies' share of the U.S. automobile market has declined from 67 percent, or 10.5 million units produced and sold in the United States, in 1985, to 22 percent, or 3.7 million units produced and sold in the United States, in 2017.

"United States defense and military superiority depend on the competitiveness of our automobile industry and the research and development that industry generates", Sanders said in a statement. Those countries combined accounted for more than 85 percent of American automotive imports in 2018.

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