Trump has made it clear that any final decision on the matter hinges on trade negotiations between the United States and the European Union. "If agreements are not reached within 180 days, the president will determine whether and what further action needs to be taken." But many US automakers depend on imported parts that could be subject to Trump's tariffs and could become more expensive. John Bozzella, president of Global Automakers, said if the president imposed new taxes on autos and auto parts, "American consumers will suffer a body blow." He said current tariffs have added cost, reduced the industry's global competitiveness and created uncertainty that has slowed investment and growth.

Source: Mint May 17, 2019 13:30 UTC