BUSINESS/SENATE/TARIFFS/TRUMP AS PRESIDENT: “Two U.S. senators from states where foreign automakers build cars introduced bipartisan legislation on Wednesday [7-25-18] that would bar the Trump administration from imposing up to 25 percent tariffs on imported cars and parts until the International Trade Commission conducted a comprehensive study of auto industry. Senators Doug Jones, an Alabama Democrat, and Lamar Alexander, a Tennessee Republican, have said the tariffs could harm foreign automakers like Volkswagen AG (VOWG_p.DE), Toyota Motor Corp and Daimler AG and the industry has said it could hike vehicle costs by $83 billion and cost hundreds of thousands of jobs. The legislation faces uphill odds in Congress. The Commerce Department is investigating whether auto imports pose a national security risk.”
–Reuters Staff, “Two senators propose delaying auto tariffs until study conducted,” Reuters, July 25, 2018 12:02 pm