AT a meeting at the White House on Friday, President Donald Trump asked the representatives of the world’s top automakers to start building cars in the United States and exporting to other countries. He said that his administration is working towards reducing gas mileage and pollution requirements enacted during the previous administration.

Trump also proposed a 20-percent tariff on imported cars, which would be subject to Obama-era emissions regulations.

A few months back, Trump had warned that cars from the European Union (EU) could face tariffs if the EU retaliates against U.S. duties on steel and aluminum imports. Experts opine it would be difficult to enact extra tariffs on car imports without violating World Trade Organization rules.

As per the norms of U.S Customs and Border Protection, cars imported to the United States are subject to 2.5- percent tariffs, with trucks subject to 25-percent tariffs, unless the United States has a free-trade agreement with the country exporting the vehicles.

In March, Trump threatened EU that if they want to increase their already massive tariffs and barriers on American companies doing business there, the United States will start levying taxes on cars being exported from Europe.

“It would be quite severe if we were to face additional import duties to ship the cars into the United States — the Germans, in particular, are very, very exposed,” said Arndt Ellinghorst, the head of global automotive research for advisory firm Evercore ISI.

Trump said that his administration will soon start formulating standards for environmental controls and fuel efficiency standards.

Lauding the efforts of Sergio Marchionne, the chairman and chief executive of Fiat Chrysler, Trump said, “Right now he’s my favorite man in the room.” Fiat will be moving its plants from Mexico to Michigan.

According to a report by Bloomberg, representatives of the world’s biggest carmakers, including GM CEO Mary Barra, Ford CEO James Hackett, Fiat Chrysler CEO Marchionne, and Rick Schostek, executive vice president of Honda North America Inc. were present at the meeting.

Meanwhile, a bill aimed at tightening oversight of foreign investment in the United States because of concern about China’s acquisition of critical technology is headed for a vote this month in the U.S. Senate Banking Committee, the panel said Friday.

The committee also released draft proposals that will be voted on to amend the bill, which was introduced last November by Senator John Cornyn.

Proposed changes to the measure appear aimed largely at blunting opposition from high-tech companies and investment firms, which had worried that even innocuous transactions would be subject to extended reviews by the Committee on Foreign Investment in the United States, or CFIUS. (SD-Agencies)