Today, the U.S. auto industry hopes the Trump administration will lessen the impact of automotive tariffs by removing the duties placed on foreign parts in cars made in the U.S.
The announcement is expected to be delivered by the President today in Michigan, where Trump will commemorate his first 100 days in office.
In a White House statement, Commerce Secretary Howard Lutnick said: “President Trump is building an important partnership with both the domestic automakers and our great American workers… This deal is a major victory for the President’s trade policy by rewarding companies who manufacture domestically, while providing runway to manufacturers who have expressed their commitment to invest in America and expand their domestic manufacturing.”
It is believed that the new reprieve will mean car companies paying tariffs will not be charged additional levies, such as those on steel and aluminum, and reimbursements will be provided for previously paid tariffs.
General Motors CEO Mary Barra praised the planned changes, “We believe the president’s leadership is helping level the playing field for companies like GM and allowing us to invest even more in the U.S. economy,” she said.
Ford CEO Jim Farley stated that the change “will help mitigate the impact of tariffs on automakers, suppliers and consumers.”
By CEO NA Editorial Staff
