President Trump said the United States would not imminently impose new tariffs on autos imported from Japan as the largest and 3rd-largest economies continue negotiations to firm up a preliminary trade agreement.
At a press conference during a G-7 Summit in Biarritz, France, President Trump was asked if he was still considering the levies, which he can institute under US trade law if his administration finds the imports threaten national security.
“Not at this moment, no, not at this moment,” President Trump said. “It is something I could do at a later date if I wanted to but we are not looking at that.”
President Trump and Japanese Prime Minister Shinzo Abe announced an agreement on the core principles of a limited trade deal Sunday, with Tokyo making concessions on agriculture and Washington maintaining its current auto tariffs of 2.5% on passenger vehicles and 25% on pickup trucks instead of raising them as President Trump has threatened to do.
Details of what was agreed have not been released.