Trump Promises to Lower Car Tariffs: What It Means for Automakers
The Trump administration is preparing to lessen the impact of imposed car tariffs.
The Trump administration is preparing to lessen the impact of imposed car tariffs. Measures include easing tariffs on foreign parts for cars made in the USA, as well as excluding additional charges on cars made abroad. This was reported by Secretary of Commerce Howard Lutnick.
"President Trump is building an important partnership with both domestic automakers and our wonderful American workers", remarked Howard Lutnick.
This decision supports domestic production and encourages companies ready to invest in the American economy.
Automakers who pay tariffs will no longer be burdened with additional charges on steel and aluminum. Compensation for already paid tariffs will also be provided. An official statement is expected to be made today.
Amidst the upcoming trip to Michigan, where the "Detroit Three" automakers are located, automotive industry representatives expressed hope for easing tariff measures.
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