US Commerce Secretary Wilbur Ross has suggested in an interview with the Financial Times that new negotiations with the European Union could be an alternative to imposing tariffs on automotive imports next month.
"One (option) would be to say, 'I'm just not going to do anything', the second would be to impose tariffs on some or all (countries) .the third might be some other form of negotiation," Ross said in an interview published by the Financial Times on Wednesday, describing the options being considered by U.S. President Donald Trump.
On trade talks with China, Ross said China was following through "in good faith" on assurances given earlier in October to press ahead with large purchases of U.S. farm products.
As the Trump administration's general license for U.S. companies to sell to Huawei Technologies expires in November, Ross told the newspaper this was not a hard deadline and could be altered.
Source: moneycontrol.com