Published:  01:34 AM, 05 November 2019

US may not need to impose auto tariffs

US may not need to impose auto tariffs Toyota trucks are shown on a car carrier for delivery after arriving in the United States in National City, California, US June 27, 2018. -Reuters

The United States may not need to impose tariffs on imported vehicles later this month after holding "good conversations" with automakers in the European Union, Japan and Korea, US Commerce Secretary Wilbur Ross said in an interview published on Sunday.

The United States must decide by Nov. 14 whether to impose threatened US national security tariffs of as much as 25% on vehicles and parts. The tariffs have already been delayed once by six months, and trade experts say that could happen again, report Reuters.

Ross told Bloomberg in an interview that the Trump administration hoped to avoid imposing the tariffs after discussing capital investment plans with automakers.

"We have had very good conversations with our European friends, with our Japanese friends, with our Korean friends, and those are the major auto producing sectors," Ross said.

"Our hope is that the negotiations we have been having with individual companies about their capital investment plans will bear enough fruit that it may not be necessary to put the 232 (tariffs) fully into effect, may not even be necessary to put it partly in effect," he added.

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