Trump has instructed US Commerce Secretary Wilbur Ross to consider initiating an investigation under Section 232 of the 1962 Trade Expansion Act to find if tariffs or other restrictions were needed on imported cars, after he met him at the White House to discuss the current state of US automobile industry.
Both countries are part of the North American Free Trade Agreement (Nafta), which the Trump administrations wants to renegotiate in a bid to boost the USA manufacturing sector.
Jared Kushner's security clearance has been restored
Kushner's application had been beset by multiple revisions and previously undisclosed contacts with foreign individuals. White House adviser Jared Kushner speaks during a Prison Reform Summit in the East Room of the White House May 18.
Trump said in a statement Wednesday that the domestic auto industry is "critical to our strength as a nation".
The talks have been underway for more than nine months and now appear likely to continue into 2019, Treasury Secretary Steven Mnuchin said earlier this week.
A person familiar with the discussions said the president has suggested seeking new tariffs of 20 to 25 percent on automobile imports.
Section 232 allows the president to impose trade restrictions on national security grounds. Almost half of the vehicles sold in the USA are imported, with numerous vehicles coming from assembly plants in Mexico and Canada.
A look at bill to ease bank rules nearing Congress passage
The legislation will also exempt certain banks and credit unions from requirements to report some mortgage loan data. Ron Johnson (R-Wis.), is created to give patients an alternative way to obtain drugs not approved by the FDA.
Passenger cars make up around 30 percent of Japan's total exports to the United States and Tokyo has already threatened Washington with retaliation at the World Trade Organization for the steel tariffs.
Mr. Trump has repeatedly floated the idea of tariffs on auto imports in meetings.
Negotiators for the United States, Mexico, and Canada remain deadlocked over rules for granting duty-free status to vehicles under a new North American trade deal.
Trump offered a hint about the move earlier in the day on the South Lawn, telling reporters that "you'll be seeing very soon what I'm talking about".
Philip Roth Dies: Pulitzer Prize Winning 'American Pastoral' Author Was 85
He dropped out of the doctoral program in 1959 to write film reviews for the New Republic before " Goodbye, Columbus " came out. Roth's literary agent Andrew Wylie confirmed he died of congestive heart failure in a NY hospital on Tuesday night.
The Turkish taxes target USA coal, paper, walnuts, almonds, tobacco, paddy, automobiles, cosmetics, machinery and equipment, and petrochemical products, says Turkish Ministry of Economy.