by Axios | 5.15.19
The White House does not plan to make a decision on whether to impose auto tariffs by President Trump's May 18 deadline and will instead delay the announcement by up to 6 months, Bloomberg reports.
Our thought bubble, via Axios' Jonathan Swan: Trump's team has been looking for ways to punt the auto tariffs decision. The White House knows that if they pile on another set of tariffs now — especially the deeply unpopular auto tariffs, which use the dubious justification that importing foreign automobiles and auto parts constitutes a "national security threat" — then the stock market would collapse and Congress would revolt.
The other side: The EU had been finalizing a list of retaliatory tariffs on $23 billion of U.S. goods in the event that Trump decided to move forward with the decision.
Written by Axios
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