Blunt said in an interview the U.S. companies and workers “definitely are at a disadvantage” because they face a 50% tariff on steel and aluminum and a 25% tariff on parts and finished vehicles, with some exceptions for products covered under the United States-Mexico-Canada Agreement that went into effect in 2020.

Up next could be pacts with India and the European Union, the 27-nation bloc that trades more with the U.S. than anyone else.

President Donald Trump on Tuesday said the U.S. and Japan had struck a trade deal that includes a lower 15% tariff that will be levied on U.S. imports from the country, including autos. Julian Satterthwaite reports.

US Treasury Secretary Scott Bessent said he will meet his Chinese counterparts in Stockholm next week for their third round of trade talks aimed at extending a tariff truce and widening the discussions.

U.S. Treasury Secretary Scott Bessent said on Tuesday that he will meet his Chinese counterpart next week in Stockholm and discuss what is likely to be an extension of an August 12 deadline for a deal to avert sharply higher tariffs.