“Trump Postpones new Taxes on European Cars.” The United States postpones higher rates for imports of cars and car parts from the European Union and Japan by up to six months.
According to the reports based on sources.
Reports that US President Donald Trump will declare the delay on Saturday.
Last week, was reported that US import duties on cars and car parts would be postponed,
due to trade negotiations between the Americans and the EU and Japan.
Trump threatened in the past with import rates of up to 25 percent on cars from the European Union and Japan.
He did this because of “national security considerations.”
The stock markets in the United States rebounded after the news.
The S&P 500 started the day in red with a loss of 0.7 percent, around 17.55 hours that loss made way for a plus of 0.5 percent.
Nasdaq tech index lost 0.5 percent at the opening but is now a 1 percent plus after reporting.