Trump signed an executive order making sure the 25% tariffs on vehicles and certain auto parts won’t stack on top of existing aluminum, steel, or Canada and Mexico tariffs. He also gave automakers a credit to help blunt the impact of the 25% duties on imported parts that go into US-built cars.
“American Automakers Ford, GM, and Stellantis appreciate the administration’s clarification that tariffs will not be layered on top of the existing Section 232 tariffs on autos and auto parts.
A first step in tariff reduction? More to follow?