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Post by bot on Feb 17, 2019 23:10:27 GMT -5
Commerce Dept. submits auto-tariff recommendation to Trump, but details not disclosed
The long-awaited Commerce Department report on whether to impose tariffs of up to 25% on imported vehicles and auto parts on national-security grounds was submitted to the White House on Sunday, though the report's recommendations were not immediately known. "Today, Secretary of Commerce Wilbur Ross formally submitted to President Donald J. Trump the results of the Department of Commerce's investigation into the effects of imports of automobiles and automobile parts on the national security of the United States," the department said simply in a statement. It was not clear when the findings of the report would be made public. The auto industry and investors are bracing for the outcome, which could seriously hamper German and Japanese auto imports, according to a report Friday from Germany's Ifo Institute for Economic Research.
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