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Citing three people familiar with the matter, The Washington Post reported several of President Trump’s senior economic advisers believe that Trump was planning to impose a 25% tariff on “close to $200 billion in foreign-made automobiles later this year.”  

Later in the day, Trump is scheduled to meet with the European Commission President Juncker and the EU Trade Commissioner Malmstrom in Washington.  

Reacting to this report, major equity indexes in the U.S. lost their traction and the Dow Jones Industrial Average was last seen down 0.35% on the day.