Aluminium   Auto  

Wilbur Ross hopes to avoid imported automobiles tariffs after discussions with Japan, Korea, EU

After discussions with automakers, including the firms in Japan, the United States may not levy tariffs later this month on imported automobiles from the European Union and elsewhere, said Commerce Secretary Wilbur Ross.

“We’ve had very good conversations with our European friends, with our Japanese friends, with our Korean friends, and those are the major auto producing sectors,” he said.

He also said that if the negotiations over capital investment plans become fruitful with those countries then imposing the section 232 tariffs would not be required, neither partly nor fully.

In May, the Trump Administration had agreed to delay new tariffs on imported vehicles and parts for six months as Washington was then engaged in negotiations with the European Union and Japan.

In September, the US then underwent a deal with Japan, according to which the tariffs could be averted. Abe and Trump together issued a joint statement that said the two countries would “refrain from taking measures against the spirit of these agreements” and would “make efforts for an early solution to other tariff-related issues.”

South Korea got earlier exemption from any future tariffs because it renegotiated the US-Korea Free Trade Agreement, or KORUS, last year.

The European Union, on the other hand, was yet to reach an agreement with the Trump administration, but maintained that cars made in the 28-country bloc did not pose a threat to the US national security. In September, Cecilia Malmstrom said she hoped the extension of the deadline.

“We’re hopeful that we can avoid the car tariffs for now, but we also know there is a chance the president could change his mind,” commented one diplomat on the condition of anonymity.

News No: 7125
Date: 2019/11/04 - 19:07

Japan  Wilbur Ross  EU  automobiles  tariff 


Leave a Comment:


Senior Iranian Aviation Official Downplays Impacts of US Sanctions

A senior member of the presiding board of Iran Airports Company underscored that the US has failed in crippling Iran's air industry through pressures and sanctions.

Novelis expects Aleris acquisition deal to close by early next year

According to a recent report, Hindalco’s US-based subsidiary Novelis is expected to close the deal of the acquisition of Aleris Corporation by January 21, 2020. But currently the company is facing an anti-trust lawsuit in the US over its proposed $2.58 billion purchase of Aleris.

ArcelorMittal to idle Krakow blast furnace

International steelmaker ArcelorMittal will temporarily shut its blast furnace in Krakow, Poland, on 23 November until steel demand recovers.

Global Ferrous Scrap Market Overview - Week 44, 2019

Although Turkish prices for imported scrap witnessed slight uptick, offers South Asian markets increased sharply however trades remained very weak on subdued domestic steel demand. Japan’s Tokyo Steel and China’s Shagang Steel not made price revisions this week.

Iran to Reach A Major Security Goal by Staying in JCPOA: Rouhani

Iranian President Hassan Rouhani said the country plans to remain in the 2015 nuclear deal, known as the Joint Comprehensive Plan of Action (JCPOA), arguing that by staying in the agreement the Islamic Republic will reach a major “security” goal next year.

Iran-EAEU Talks on Establishing Free Trade to Start Next Year: Official

Head of Iran’s Trade Promotion Organization (TPO) Hamid Zadboum said the country plans to start talks with the Eurasian Economic Union (EAEU) next year to establish a free trade agreement.
Upcoming Events
 Mines & Metals

Mine & Business Today

 Scrap & Recycling


Our partners