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5/17, 2:40 PM (Source: TeleTrader)
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US tariffs on cars officially delayed for 6 months

The administration of United States President Donald Trump decided to delay tariffs on imported cars on Friday as it continues to negotiate trade deals with the European Union and Japan. The White House had by Saturday to decide on the auto duties, but it was reported earlier this week that Trump would postpone them for 180 days.

"Within 180 days of the date of this proclamation, the Trade Representative shall update me on the outcome of the negotiations directed under clause (1) of this proclamation" and then further action will be decided on, the White House statement said. Additionally, the president directed US Trade Representative Robert Lighthizer to lead negotiations with the EU.

Breaking the News / JC