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U.S. issues new tariff threat, this time against British-built cars

WASHINGTON — Britain is the United States' closest ally but their long friendship may be sorely tested as the two countries try to forge a new trade agreement after Britain's exit from the European Union. U.S. Treasury Secretary Steven Mnuchin said on Saturday in London that he was optimistic that a bilateral deal with Britain could be reached as soon as this year. But Mnuchin gave up no ground after a second meeting with his UK counterpart, Sajid Javid. Javid has insisted that Britain will proceed with a unilateral digital services tax, despite a U.S. threat to levy retaliatory tariffs on British-made autos. Mnuchin told reporters after Saturday's meeting that such taxes would discriminate against big U.S. tech companies like Alphabet Inc's Google, Apple, Facebook and Amazon. The UK Treasury declined to comment on the private meeting. The divide highlights the challenges ahead as the Trump administration seeks a new bilateral agreement with Britain, part of a broader push to rebalance relations with nearly all its major trading partners. The stakes are high — British Prime Minister Boris Johnson has pegged the trade deal with United States as a way to ease the pain of breaking with Europe, Britain's largest trade partner. U.S. President Donald Trump, has promised a "massive" trade deal to support Brexit, the product of a populist movement similar to his "America First" agenda. The goodwill and special relationship the two countries have enjoyed for decades may not count for much, experts say. "Trump is not going to be doing Johnson any favors," said Amanda Sloat, a senior fellow with the Brookings Institution in Washington. "He's not going to give him a trade deal without major concessions." Even before the digital tax issue arose, the Trump administration threatened to tax foreign car imports, which could hit British-made Jaguar, Land Rover, Mini, and Honda Civic hatchback cars. Stiff U.S. trade demands include increased access for U.S. farm goods, concessions that will be difficult for Britain's entrenched natural food culture to swallow. The United States also wants Britain to change the way its National Health Service prices drugs and allow in more U.S. pharmaceuticals, which could prove politically unpopular for Johnson's government. Washington's demand that London block Chinese telecoms equipment maker Huawei Technologies Co Ltd for national security reasons could also cloud talks.

Weekly Recap: The divergent paths of Tesla and Fisker

There's no doubt that Tesla is downshifting while Fisker has been grinding its gears. But it wasn't always that way.
In the wake of Tesla's recent success, it's easy to forget that there were once two California electric carmakers with bright futures.

Stolen Jaguar Recovered Forty-Six Years Later

Forty-six years ago Ivan Schneider, successful Manhattan lawyer, bought himself the Jaguar convertible that would feature in a most unusual tale of unrequited love. It was the first (and "prettiest") of many luxury cars he would own, his companion on fast drives - and the only one that was ever stolen. Forty-six years later, a U.S. Customs and Border Patrol analyst running a routine export check through a stolen car database came up with a hit. The 1967 Jaguar XKE was hot. The problem: It was already on a cargo ship, in a container, headed for Europe, two days out of the Port of Long Beach on the Pacific Ocean. Investigators with the California Highway Patrol and nonprofit National Insurance Crime Bureau got to work. New York police still had the March 1968 incident report. CHP investigator Michael Maleta spoke with Schneider in Florida, where he now lives. Schneider thought it was a prank. "After we convinced him, he was excited," said Maleta. After all, Schneider told The Associated Press on Wednesday, he would think of the car every time he bought a new one. And, he said, he is a car guy who has owned quite a few exotics. For the months he owned it, he was in love. "I've always said that was the prettiest," Schneider, now 82, said. Tracing the car's history, Maleta learned the Southern California man exporting it to the Netherlands had bought it about three months ago from an owner in the San Joaquin Valley, who himself had it 40 years. What happened between its disappearance from the concrete canyons of the Upper East Side and its California sojourn - Maleta hopes his investigation will answer that. After its out-and-back sea journey to the Netherlands, the car is back in Southern California, more than two months after the law finally found it. It's rusty and scratched, but still worth about $24,000 - and far more if restored, as Schneider plans to do. He just won't push it too hard. It's old, so is he, and though beautiful it is known for trouble under the hood. "I'll use it as a Sunday car," Schneider said. "They were never reliable." At least, one day soon, it will be back home. Related Gallery 2014 Jaguar XJR Test Drive Weird Car News Jaguar stolen car