The Trump Administration is considering new tariffs on imports of cars and auto parts. If the White House goes forward with tariffs, it would impact approximately $360 billion in imports. That’s more than seven times the value of steel and aluminum imports. European Commission President Jean-Claude Juncker said Trump promised last year not to impose tariffs on European cars while trade negotiations are taking place. If the U.S. does impose tariffs, Juncker said the EU will no longer follow through on its commitment to purchase more U.S. soybeans.
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.