Trump Administration Eases Tariffs for U.S. Automakers

Axios

 

The Trump administration said on Tuesday that it will ease tariff pressure on automakers with reimbursements for taxes on foreign auto parts.

Why it matters: Senior administration officials say the relief came after conversations with domestic auto manufacturers, many of which have warned about the economic damage from the previously imposed 25% tariff rate.

Driving the news: President Trump is expected to sign an executive order later on Tuesday that would reimburse automakers for as much as 15% of the tariffs paid on imported foreign parts for cars finished in the U.S., effective on Saturday. That would move down to 10% next year.

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