Capitol Report: Commerce Department report backing 25% tariffs on auto imports could hit Sunday [MarketWatch]
Morgan Stanley (MS)
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Source: MarketWatch
Commerce Department report backing 25% tariffs on auto imports could hit Sunday The auto industry and its investors are bracing for a long-awaited Commerce Department report offering recommendations on new tariffs targeting imported vehicles and auto parts. The report, expected to come as soon as Sunday, was requested in May by President Donald Trump , who at that time was considering new auto tariffs of as much as 25% on national-security grounds. The 25% levy is still on the table, and it will be one of the options presented in Commerce’s document, according to a report by German magazine WirtschaftsWoche . But the magazine also said there will be two other options — tariffs of 10%, which would match the European Union’s approach, or targeted duties that only would get imposed on certain imports, such as electric cars and their parts. The potential for the lesser options “could be seen as a positive sign” by anyone hoping for global trade tensions to ease, said Morgan Stanley strate
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