Reuters reports the Trump administration may consider imposing new tariffs on imported vehicles based under Section 232 of the Trade Expansion Act of 1962.
A little bit of background – a section 232 investigation is conducted under the authority of the Trade Expansion Act of 1962, as amended and the purpose of a 232 investigation is to determine the effect of imports on the national security. Investigations may be initiated based on an application from an interested party, a request from the head of any department or agency, or may be self-initiated by the Secretary of Commerce.
Reuters reports the administration is currently considering tariffs of up to 25 percent for imported vehicles. As this was just announced, the plan is still not yet implemented and will receive much feedback from interest groups, foreign trading partners, domestic dealers of importer cars and anyone else involved in the import car business.
Check back for the latest news. If you have any questions about the current steel and aluminum tariffs initiated under section 232, contact experienced trade attorney – David Hsu at 832-896-6288 or by email at email@example.com.