{"id":93432,"date":"2018-10-09T20:02:41","date_gmt":"2018-10-09T20:02:41","guid":{"rendered":"http:\/\/www.bnreport.com\/malmstrom-us-tariffs-on-eu-cars-could-absolutely-happen-4\/"},"modified":"2018-10-09T20:02:41","modified_gmt":"2018-10-09T20:02:41","slug":"malmstrom-us-tariffs-on-eu-cars-could-absolutely-happen-4","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/malmstrom-us-tariffs-on-eu-cars-could-absolutely-happen-4\/","title":{"rendered":"Malmstr\u00f6m: US tariffs on EU cars could absolutely happen"},"content":{"rendered":"

INNSBRUCK, Austria \u2014 EU trade chief Cecilia Malmstr\u00f6m warned Friday that American tariffs on European cars \u201ccould absolutely happen,\u201d and said that she would meet again with U.S. Trade Representative Robert Lighthizer at the end of November to try to avoid such an escalation.<\/p>\n

Malmstr\u00f6m told reporters that auto tariffs from President Donald Trump are \u201cnot around the corner because the investigation is not done yet from the U.S. side, but it could absolutely happen.\u201d<\/p>\n

She added that the EU is drafting its own retaliation list: \u201cWe are ready, and we have said so very clearly to the United States, that we will take measures,\u201d the trade commissioner said.<\/p>\n

Asked whether Brussels is willing to accept quotas<\/a> that would protect a limited amount of car exports from tariffs, Malmstr\u00f6m said: \u201cThe European Union can never accept anything that is not compliant with WTO.\u201d<\/p>\n

Trade experts have argued that voluntary export restrictions, such as the car export quotas that the U.S. forced upon Canada and Mexico in the new NAFTA deal, run counter to WTO rules.<\/p>\n

The EU hopes that swift progress in the area of regulatory cooperation could avoid a tariff escalation. Malmstr\u00f6m said she is \u201cwaiting for U.S. reactions\u201d on an EU proposal<\/a>, and said that trade experts from both sides would hold discussions this \u201clater this month.\u201d<\/p>\n

\u201cThen I will meet with Lighthizer end of November,\u201d she said, adding that how far they will be able to advance \u201cdepends on how the talks in October go.\u201d<\/p>\n

Read this next: Interpol chief reported missing<\/a><\/em><\/h2>\n","protected":false},"excerpt":{"rendered":"

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