Trump to ease auto tariffs as he heads to Michigan to celebrate first 100 days in office

Commerce Secretary says deal is a major victory for President's trade policy...Read More

President Donald Trump is expected to unveil a series of measures to ease auto tariffs as he heads to Michigan, the hub of U.S. automobile industry, to celebrate the first 100 days of his second White House term.

“President Trump is building an important partnership with both the domestic automakers and our great American workers,” Commerce Secretary Howard Lutnick said Monday.

“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.”

The news of tariff relief for the auto industry was broken by The Wall Street Journal which reported that American companies that pay 25% tariffs on imported automobiles, would not be required to pay additional tariffs, such as those on steel and aluminum.

The measure will be implemented retroactively and automakers are expected to be reimbursed extra duties they have already paid.

Trump’s move comes on the eve of 25% tariff on imported auto parts on May 2. According to Journal, it would be modified and automakers would be reimbursed up to 3.5% of the value of a U.S-made vehicle for one year.

In 2026, it would be reduced to 2.5% next year, and is set to phase out in 2027.

Trump has pledged that the introduction of tariffs would step up U.S. production, create manufacturing jobs, and generate federal revenues.

The President will complete first 100 days in office on April 30.

He concluded his presidential campaigns in 2016, 2020 and 2024 with rallies in the battleground state of Michigan.

Tariffs have been an important feature of his trade and economic policies.

He has also launched a crackdown on illegal Immigration, deporting thousands of undocumented foreigners to their home countries.

Trump has signed at least 137 executive orders on a wide array of issues including downsizing the federal government. His orders have led to dismantling of the Department of Education, establishment of the Department of Government Efficiency, and end of diversity, equity and inclusion initiatives from the federal government institutions.

Categories
AutomobileDonald TrumpTrade WarU.S.
No Comment

Leave a Reply

*

*

RELATED BY

Views and News – A New Star Rises

Cricket with Hasan Jalil Views News Production

Cybertex Institute of Technology

VIEWS NEWS NOW

Views News Now is an independent magazine covering life at the intersection of arts, culture, business, economy, politics and international affairs. The magazine is part of Views News Now company, which also offers services including media consultation, script writing, documentaries and video productions. We can be reached at editor@viewsnews.net