The White House is planning to add automobile imports to its list of products that will face new tariffs.
The tariffs would be justified on national security grounds, the same rationale used for its recent steel and aluminum tariffs, according to a report Wednesday by the Wall Street Journal, citing anonymous industry sources.
President Trump teased an announcement early Wednesday, tweeting: “There will be big news coming soon for our great American autoworkers. After many decades of losing your jobs to other countries, you have waited long enough!” A representative for the U.S. Trade Representative’s office could not be reached for comment.
The administration has been renegotiating the North American Free Trade Agreement with its partners, Mexico and Canada, over several issues, including some related to autos. The administration has pushed to change NAFTA’s “rules of origin” for when a product can be declared “made in America” to boost domestic auto manufacturing.
China’s Foreign Ministry said Tuesday it would lower tariffs on imported vehicles to 15 percent, down from the existing level of 25 percent. The country’s government also vowed to lower tariffs on imported auto parts.
