Trump to offer automakers some relief on his 25% tariffs, after worries they could hurt US factories [View all]
Source: Associated Press
WASHINGTON (AP) — President Donald Trump will sign executive orders Tuesday to relax some of his 25% tariffs on autos and auto parts, the White House said, a significant reversal as the import taxes threatened to hurt domestic manufacturers.
Automakers and independent analyses have indicated that the tariffs could raise prices, reduce sales and make U.S. production less competitive worldwide. Trump portrayed the changes as a bridge toward automakers moving more production into the United States.
“We just wanted to help them during this little transition, short term,” Trump told reporters. “We didn’t want to penalize them. ”
Treasury Secretary Scott Bessent, who spoke earlier at a White House briefing on Tuesday, said the goal was to enable automakers to create more domestic manufacturing jobs.
-snip-
By JOSH BOAK and ALEXA ST. JOHN
Updated 4:00 PM EDT, April 29, 2025
Read more: https://apnews.com/article/trump-tariffs-automakers-factories-relief-25a400c98e02c01c8c54502384e267e1
= new reply since forum marked as read