>> Auto makers, the latest target of President Trump and his America first strategy, after the US Commerce Department launched a trade investigation into imported cars, in the interest of national security. A move that sources say, could result in tariffs as much as 25%. Reuters Global Automotive Industry Editor, Joe White.
>> The Trump administration, is basically holding a bombshell over the US auto industry. Hundreds, thousands of auto dealers rely on selling imported vehicles for their profits. Lots of consumers like to buy them. Should be a big, big up ending of the status quo in the US auto market.
Probably the most sweeping protection for US based auto producers and auto factories since the Reagan Era, when they had voluntary restrictions on imports of Japanese cars.>> Sources tell Reuters, Trump hinted at the plan at a meeting with auto makers at the White House on May 11th. Trump has launched a series of trade actions, demanding China import more American goods.
Starting talks to renegotiate the NAFTA, and using the same national security law to impose tariffs on steel and aluminum.