May 15, 2019

Report: White House to delay decision on auto tariffs by up to 6 months

European Commission President Jean-Claude Juncker with President Trump in July. Photo: Kevin Dietsch-Pool/Getty Images

The White House does not plan to make a decision on whether to impose auto tariffs by President Trump's May 18 deadline and will instead delay the announcement by up to 6 months, Bloomberg reports.

Our thought bubble, via Axios' Jonathan Swan: Trump's team has been looking for ways to punt the auto tariffs decision. The White House knows that if they pile on another set of tariffs now — especially the deeply unpopular auto tariffs, which use the dubious justification that importing foreign automobiles and auto parts constitutes a "national security threat" — then the stock market would collapse and Congress would revolt.

  • Trump still wants to hold out the threat of auto tariffs over the Europeans as leverage. But his team is acutely aware that they've pushed Republican lawmakers to the brink of their tolerance with his tariffs war with China.

The other side: The EU had been finalizing a list of retaliatory tariffs on $23 billion of U.S. goods in the event that Trump decided to move forward with the decision.

Go deeper: Trump's plan to keep car tariffs in his back pocket

Go deeper

The race to catch Nike's Vaporfly shoe before the 2020 Olympics

Illustration: Aïda Amer/Axios

Four months ago, on the very same weekend, Eliud Kipchoge became the first human to run a marathon in under two hours, and fellow Kenyan Brigid Kosgei shattered the women's marathon record.

Why it matters: Kipchoge and Kosgei were both wearing Nike's controversial Vaporfly sneakers, which many believed would be banned because of the performance boost provided by a carbon-fiber plate in the midsole that acted as a spring and saved the runner energy.

Reassessing the global impact of the coronavirus

Illustration: Aïda Amer/Axios

Economists are rethinking projections about the broader economic consequences of the coronavirus outbreak after a surge of diagnoses and deaths outside Asia and an announcement from a top CDC official that Americans should be prepared for the virus to spread here.

What's happening: The coronavirus quickly went from an also-ran concern to the most talked-about issue at the National Association for Business Economics policy conference in Washington, D.C.

Tech can't remember what to do in a down market

Illustration: Rebecca Zisser/Axios

Wall Street's two-day-old coronavirus crash is a wakeup alarm for Silicon Valley.

The big picture: Tech has been booming for so long the industry barely remembers what a down market feels like — and most companies are ill-prepared for one.