"Running Out of August" (Perhaps Until February): Trump to Postpone Auto Tariffs
Trump delayed auto tariffs after a meeting with Jean-Claude Juncker that accomplished nothing. He is about to Delay Auto Tariffs Again according to Commerce Secretary Wilbur Ross.
> Commerce Secretary Wilbur Ross told reporters in late July that he would complete his study and recommendations on the possible national security threat from automotive imports “probably sometime in the month of August.”
> But in an interview Monday with The Wall Street Journal, Mr. Ross said it is now “not clear the report will be out at the end of the month.” He said the delay was “in view of the negotiations” ongoing with the European Commission, Mexico and Canada.
> “We just received elaborate questionnaires from the car companies, with zillions of pages, and that won’t be ready in five minutes,” he said. “We’re running out of August.”
> Mr. Ross declined to set a new timetable, noting that the law used to justify the report doesn’t require any findings until next year.
> Officials had originally suggested the process for vehicle tariffs was on a fast track. In late July, Mr. Ross told reporters that “probably sometime in the month of August we’ll be willing to render a report” that would include the Commerce Department’s findings on the impact of imports on the domestic auto industry, as well as recommendations for possible policies to curb those imports.
What's the Delay Really About?
This has nothing to do with NAFTA, better deals, or concessions from the EU. In regards to the latter, there weren't any and won't be any.
This has nothing to do with the Art of the Deal. Trump has accomplished nothing with regards to trade.
This is about mid-term elections. Republicans are now likely to lose the House, as I suggested some time ago. An outright slaughter is possible.
There is near-universal disapproval of these tariffs.
After the election Trump won't give a damn. He can be as stubbornly stupid as he wants to be.
- Trump's Lies Won't Make Farmers Great Again: There Was No Deal on Agriculture.
- Hey Mr. Juncker, About That Bean Order
- Growing List of Companies and Organizations Complaining About Tariffs
Things are so bad, five Republican Senators openly complain about Trump's policies. House Rep Mark Sanford called it "nightmare policy". For discussion, please see Republican "Nightmare".
Mike "Mish" Shedlock