According to two sources, Washington will announce plans to impose taxes on EU aluminum and steel imports as early as Thursday. A magazine reported that President Trump is going to push German cars from the U.S.
Taxes and Cars
Two knowledgeable people on the matter reported that Trump’s decision on metal taxes will land before Friday. There is a deadline on Friday for expiry exemptions granted to Canada, Mexico, and the European Union.
Wirtschaftswoche, a German magazine, reported on Thursday that Donald Trump told Emmanuel Macron, the French President, that he is going to stick to his trade policy. Also, according to the magazine, he will push his policy until Mercedes-Benz cars are not present anymore in New York.
The Trump administration started a national security investigation into truck and car imports last week. Now, they are using the same law from 1962 that he already applied to curb incoming aluminum and steel.
Potential Trade War?
Bruno Le Maire is the French Finance Minister. He met with the U.S. Commerce Secretary, Wilbur Ross, on Thursday. This is the latest meeting in a series of E.U.-U.S. meetings. The goal was to end the stand-off.
