BUSINESS/TARIFFS/TRUMP AS PRESIDENT: “U.S. auto sales have proved resilient so far in 2018, with many of the largest car sellers posting sales increases over the first six months of the year despite predictions that demand would cool. Rising interest rates and more choices of late-model used vehicles were expected to curb new-vehicle sales this year. But analysts say a strong economy, low unemployment and tax cuts kept sales at a near-record pace in the first half of the year—extending a long period of prosperity for a cyclical industry. But industry executives warn that momentum could stall in coming months as President Donald Trump threatens to impose tariffs that are projected to cost the auto industry billions of dollars and could raise some car prices by nearly $6,000, according to estimates…The White House asked the Commerce Department in May to investigate whether tariffs of up to 25% on all imported vehicles could be imposed on national-security grounds. Mr. Trump has also repeatedly threatened tariffs on European auto imports, and in a June tweet he vowed a 20% tariff on all vehicles coming from Europe. Meanwhile, the U.S. and China have edged closer to a trade war in recent weeks with the Trump administration set to impose tariffs on $34 billion of Chinese goods starting Friday [7-6-18].”
–Adrienne Roberts, “U.S. Auto Sales Remain Strong, but Tariffs Could Squash Momentum,” The Wall Street Journal, July 3, 2018 1:55 pm