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U.S. expected to hold off on auto tariffs (for now)

  • The Trump administration is expected to hold off on imposing new automobile import tariffs (up to 25%) to allow more time for revisions to a report on the national security implications to be taken into account, sources tell Bloomberg.
  • The U.S. response is being closely watched, with analysts warning that additional tariffs create a cascading risk of higher supply chain costs in Europe, Asia and North America. EU Trade Commissioner Cecilia Malmstrom is in Washington this week for talks that could set up advanced negotiations as early as January.
  • The trade skirmishes have already been blamed in part for the sharp drop in auto sales in China over the last six months for both domestic and global automakers.
  • Related stocks: GM, F, FCAU, TM, OTCPK:NSANY, OTCPK:VWAGY, HMC, OTCPK:BMWYY, OTCPK:AUDVF, OTCPK:DDAIF, TTM, TSLA.
  • Related ETF: CARZ.

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