Shawn Donnan, Jenny Leonard and Margaret Talev Bloomberg Published 11:33 AM EDT May 15, 2019 President Donald Trump is expected to delay a decision by up to six months to impose auto tariffs later this week to avoid blowing up negotiations with the EU and Japan and further antagonize allies as he ramps up his trade war with China, according to people close to the discussions. Trump faces a May 18 deadline over how to proceed with his threat to slap a tariff of as much as 25% on imported cars and parts in the name of U.S. national security. The news was welcomed by an equities market that has been battered by renewed trade concerns over the past two weeks. The S&P 500 erased its earlier losses of as much as 0.7% and was trading little changed as of 10:27 a.m. in New York. Shares of BMW AG surged as much as 5%, while Ford Motor Co., General Motors Co. and Fiat Chrysler Automobiles also gained. The president, who is due to make a state visit to Japan later this month, remains the wild card, according to people close to the discussion. Trump and a small group of aides… Read full this story
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