The Trump administration on Wednesday launched a national security investigation into car and truck imports that could lead to new U.S. tariffs similar to those imposed on imported steel and aluminum in March. It is also trying to renegotiate the North American Free Trade Agreement to return more auto production to the United States. Bozzella noted 12 million cars and trucks were produced in the United States last year. Trump has railed against European auto imports and tariffs, and in March threatened to impose a tax on cars from the EU. At the same time, the United States exported nearly two million vehicles worldwide worth $57 billion.

Source: CBC News May 24, 2018 02:15 UTC