Trump planning huge tariffs on foreign cars despite opposition: report

Trump planning huge tariffs on foreign cars despite opposition: report
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President TrumpDonald John TrumpHannity urges Trump not to fire 'anybody' after Rosenstein report Ben Carson appears to tie allegation against Kavanaugh to socialist plot Five takeaways from Cruz, O'Rourke's fiery first debate MORE reportedly plans to push forward on imposing 25 percent tariffs on about $200 billion in foreign-made cars later this year despite the advice of many within his inner circle.

The Washington Post, citing three people briefed on the internal discussions, reported on Wednesday that many of Trump's senior economic advisers think the president is ready to move forward with the plan.

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The move would come despite warnings from various GOP lawmakers and business executives who have maintained that such stiff tariffs would damage the U.S. economy and lead to intense political backlash.

The report from the Post also comes the same day a European Union delegation travels to Washington for discussions on a long-term trade deal.

European Commission President Jean-Claude Juncker is scheduled to meet with Trump on Wednesday afternoon.

Juncker is expected to propose two ideas that could cool current tensions between the White House and the EU, the Post reported. One option he plans on proposing is lowering tariffs among all major auto-exporting countries. 

He is also expected to propose a more targeted deal between the U.S. and the EU eliminating tariffs on industrial products including cars.

The EU trade commissioner, Cecilia Malmström, said Wednesday that the EU is readying tariffs on $20 billion of U.S. goods if Trump imposes trade levies on imported cars. 

The president first threatened to place a 20 percent tariff on all European cars entering the U.S. in June.

Trump's reported push to implement the steep tariffs on foreign-made cars comes as he ramps up his protracted trade dispute with various nations, including several U.S. allies.

"Every time I see a weak politician asking to stop Trade talks or the use of Tariffs to counter unfair Tariffs, I wonder, what can they be thinking?" Trump tweeted on Wednesday. "Are we just going to continue and let our farmers and country get ripped off? Lost $817 Billion on Trade last year. No weakness!"