white house that the ultimate fate of the automobile tariffs depends on whether the u.s. can reach a wider ranging trade deal with the european union to downplay the recent commerce department report calling imports of european cars and auto parts a security threat. samsung is launching its highly anticipated foldable smartphone the galaxy fold is set to hit stores in april where it will cost are you ready for this almost two thousand dollars the device folds like a wallet when collapse it resembles a traditional smartphone with a four point six inch screen when open it looks more like a mini tablet with a seven point three inch screen samsung is also releasing three versions of the s ten smartphone in the coming weeks the global smartphone market has however cooled recently with newer models showing fewer big i. dates but bigger price tags.
automobile tariffs but kudlow could not say when or by how much. we talked often, they could start immediately. immediately is a very important word here. i expected to be done immediately and in good faith. treasury secretary steve mnuchin tried to pull back the immediate timeline thank you think lower tariffs will be phased in over the next 90 days. it is not a done deal but a deal in progress and if negotiations don t pan out as planned donald trump has reserved the right to escalate tariffs. as a point of reference we should note us company sold $10 billion of passenger vehicles to china last year which is why markets responded so well to the idea of china lowering its import tax. beyond vehicles donald trump envisioned striking deals with china on everything from nuclear
senators on both sides of the aisle were angered when the cia was not part of a grieving on him last week. president trump claims relations with china have taken a big leap forward following a high-stakes meeting with china s president at the g20 summit. trace gallagher is here to tell us more. good evening, trees. good evening, shannon. we know chinese and government . government in fact, the president believes he has a handshake deal with chinese president xi when it comes to vehicle tariffs. with mr. trump tweeting, china has agreed to reduce and remove tariffs on cars coming into china from the u.s. currently the tariff is 40%. top economic advisor larry kudlow stood behind the president saying he also believes china has agreed to lower automobile tariffs although he could not say when or how to write. watch. as he said to us many times in our private talks, they could
with the old, in with the new trade deal. for instance, the name trump was adamant about, the rebranding of the new trade deal from nafta. then there s dairy. in a concession to trump, canada will give u.s. dairy farmers better access to about 3.5% of the country s $16 billion dairy market. as a result of that concession, the president assured canada and mexico that he would not hammer them with automobile tariffs. which brings us to big changes in the auto industry. in an effort to have more cars manufactured in north america, to qualify for zero tariffs, a vehicle must have 75% of its components manufactured in north america, up from the current 62.5%. and in 2020, at least 30% of the work on zero tariff cars must be performed by employees making at least 16 bucks an hour. i have to note, tariffs on aluminum and steal from the u.s. and retaliatory tariffs from canada are still in place, despite these negotiations.
will come to the table and they have to compromise more with the fear, of course, of the automobile tariffs that president trump talked about. neil: thanks, guys, very much. i apologize with all the breaking news. we re following multiple remembrances for senator john mccain in washington. of course, in detroit for aretha franklin. both have been very heart warming affairs. it s fair to say that aretha franklin s has been more raucous but fun. more after this. as king midas, i get special treatment. here, you will too. your oil change comes with a tire rotation as well. ooo! i could put that on an airplane banner. our $19.99 oil change also includes a tire rotation. book an appointment online. mom: okay we need to get all your school supplies today. school. grade. done. done. hit the snooze button and get low prices on school supplies all summer long. like this case of paper for only $29.99 at office depot officemax.