The Commerce Department announced Wednesday that it will investigate the possibility of using national-security laws to impose steep tariffs on auto imports.
The announcement came after President Trump reportedly asked Commerce Secretary Wilbur Ross to consider implementing a 25 percent tariff on auto imports, following through on a protectionist promise he’s made repeatedly since taking office.
“There is evidence suggesting that, for decades, imports from abroad have eroded our domestic auto industry,” Ross said in a statement announcing the probe late Wednesday.
The investigation will explore the effect of tariffs on cars, sport-utility vehicles, and vans, and will “consider whether the decline of domestic automobile and automotive parts production threatens to weaken the internal economy of the United States,” according to the statement.Read the rest from Jack Crowe HERE.
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