WATCH: At a NYC economic forum, President Trump says he meets with kings, queens, prime ministers, presidents and dictators: 'Anybody who wants to come in -- dictators, it's OK -- come on in, whatever's good for the United States.'
“Trump probably still believes tariffs are good, but he’s also cautious in terms of the economic cycle,” said Nicolas Véron, a senior fellow at Bruegel think tank in Brussels and the Peterson Institute for International Economics. “The reality is probably sinking in for him that trade wars are not good for the U.S. economy.”
“It gives a lot of weight to economic welfare as a factor in determining whether to impose national security tariffs. In addition, specifically with regard to auto tariffs under Section 232, the administration has shown a willingness to use the threat of tariffs to achieve market access concessions from U.S. trading partners,” Pinkert said. “I’m expecting continued negotiations.”
“The bad news is the issue is not going away and will come back in six months’ time,” Véron said. “That will remain as a dark cloud over the European economy, which is unfortunate at the moment,” since many are already concerned that the bloc’s economy could slip into a recession. “There’s not much political support for tariffs on European autos, and consumers would be directly hurt,” said Ian Shepherdson, chief economist at Pantheon Macroeconomics.
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