WASHINGTON (Reuters) – U.S. President Donald Trump is expected to delay a decision on tariffs on imported cars and parts by up to six months, three administration officials told Reuters.
A formal announcement is expected by Saturday, the officials added.
The administration has drafted language to formally delay a decision on the tariffs that is due by May 18. Reuters reported last week that automakers expected Trump to delay the decision as talks continue with the European Union and Japan. General Motors Co (NYSE:), Volkswagen (DE:) AG, Toyota Motor Corp and others have warned of the damaging impacts of imposing tariffs of up to 25 percent on imported cars and parts.