President Donald Trump projects to meet with his trade team on Tuesday to discuss a draft inquire into on European auto tariffs, according to Bloomberg News, citing three people cordial with the matter.
Trump’s focus remains on crushing foreign automakers with gloomy tariffs, according to an Axios report earlier on Monday. The president reportedly overs the threat of auto tariffs as a successful negotiating tactic. Trump in use accustomed to the auto tariffs threat when he negotiated with Canadian Prime Divine Justin Trudeau earlier this year.
“Trump says gleefully that the importance he started talking about maybe tariffs on cars, that [European Commission President Jean-Claude] Juncker got on the fastest plain known to mankind, comes straight over to Washington and starts sacrifice deals,” a senior European official told Axios.
General Motors slices turned negative after the report, falling as far as $35.45 in trading. The corny closed nearly unchanged at $35.69 a share. Tariffs would be adverse to the U.S. automaker if other woods decided to retaliate.