Jul 4, 2018

Over 40 countries sound the alarm on Trump's plan for auto tariffs

WTO Director-General Roberto Azevedo. Photo: Mehmet Ali Ozcan/Anadolu Agency via Getty Images

Over 40 members of the World Trade Organization — including all 28 European Union nations, Russia, China, Japan and India — approached the international body about potential Trump administration tariffs against foreign automobiles, according to Reuters.

The backdrop: The U.S. launched a Section 232 national security probe into foreign car imports in May. That's the same law President Trump used to impose sweeping steel and aluminum tariffs on U.S. trading partners, and WTO members warned that similar action against foreign autos "could seriously disrupt the world market and threaten the WTO system, given the importance of cars to world trade," per Reuters.

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Mark Cuban opens door to 2020 run

Photo: Axios Events

Businessman and Dallas Mavericks owner Mark Cuban revived talk of an improbable 2020 presidential bid during an Axios virtual event on Friday.

  • "Everything's a reset right now," Cuban told Axios CEO Jim VandeHei. "If this would would've been a month ago, I would have said absolutely not. But obviously things are crazy, things are changing. So I'll keep an open mind. But I seriously doubt it."

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  3. Business latest: Mark Cuban criticizes "arrogant" 3M on respirator production — The wartime mobilization effort to produce ventilators and medical supplies got started too late.
  4. Politics latest: Lawmakers on both sides of the aisle are worried about the difficulties of delivering the $2.2 trillion in stimulus aid.
  5. Jobs update: The U.S. lost 701,000 jobs in March, but the new report doesn't reflect the height of the virus' impact on the economy.
  6. World update: About half of the deaths worldwide are in Italy and Spain, with fatalities exponentially increasing across Europe.
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Mark Cuban criticizes "arrogant" 3M on respirator production

Photo: Axios Events

Businessman and Dallas Mavericks owner Mark Cuban said during an Axios virtual event Friday that 3M is "arrogant" for not speaking up about respirator production in the midst of the coronavirus outbreak.

What he said: Cuban criticized the company for "making more globally than domestically," echoing a similar line from President Trump now that the U.S. is the epicenter of the pandemic. "You can't ghost the American people," he told Axios CEO Jim VandeHei from Dallas.