Wilbur Ross: Trump has many options on auto tariffs, decision on 18 May
Comments by US commerce secretary, Wilbur Ross
- Trump may continue talks on auto tariffs beyond May, that is also an option
- Says US and China are down to the real 'core' of trade talks
His comments here throws a bit of uncertainty over yesterday's report that the tariffs are to be delayed by six months. But his remark that talks may continue beyond May suggests that that could be the likely decision at the end of the day.
Given that Trump is facing a long-winded battle with China, it wouldn't be the worst thing to put this on ice for the time being. EUR/USD did get a bit of a nudge lower from around 1.1215 to 1.1200 on the headlines here but the pair remains trapped in a narrow 26 pips range in trading so far today.