EU warns of reduced imports if Trump puts tariffs on cars

EU warns Donald Trump against auto tariffs, says retaliation would be 'swift'

The European Union warned U.S. President Donald Trump Monday that the bloc will step back from a commitment to buy more American soybeans and liquid gas if European cars are hit with punitive tariffs.

The Commerce Department did not make public any details on its recommendations to Trump.

Major automaker groups said a year ago the cumulative effect for the United States would be an $83 billion annual price increase and argued there was no evidence auto imports posed a national security risk.

If the report does support the argument that auto imports pose a threat, and if the president then follows through, he could levy tariffs of as much as 25% on billions of dollars worth of cars and car parts, everything from luxury vehicles like the Meredes-Benz S-Class down to windshield wipers and batteries.

US light duty vehicle prices would increase by $2,750 on average, including USA -built vehicles, reducing annual USA sales by 1.3 million units and forcing many consumers to the used auto market, the think tank's report said.

The U.S. Commerce Department is normal issue its direction on whether auto imports imperil U.S. national security enough to legitimize import charges, allowing Trump 90 days to choose whether to impose them.

"Every single US -made vehicle and truck has imported components and assembly".

Pakistan 'ready to talk' with India on Kashmir: PM Khan
The worldwide community is well acquainted with the reality that Pakistan is the nerve center of terrorism , the statement said. Khan assured that action will be taken if there is any "actionable evidence" available to prove Pakistan's link to the attack.

European carmakers' share rally this year might hit a roadblock as a US probe of auto imports raises the potential of new tariffs, with underperforming German manufacturers particularly at risk.

The Korean business community looks forward to the strong leadership of the US Congress on this bill for free trade, it said. "If these cars - which are no less a threat than those built in Bavaria - are suddenly a national security threat to the USA, then that's a shock to us".

"These tariffs, if imposed, would adversely impact the success and growth of American manufacturing businesses by placing manufacturers at a competitive disadvantage to their global counterparts and eroding U.S.jobs", the group said. "Where this report translates into actions detrimental to European exports, the European Commission would react in a swift and adequate manner".

The United States are Germany's most important single export destination after the bloc of European Union countries.

The association also argued that the importation of motor vehicle parts is not a risk to national security.

German automobile groups previous year exported 470,000 cars from Germany to the United States, according to the VDA manufacturers' federation.

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