15.04.2025 12:31
U.S. President Donald Trump stated that there could be a temporary exemption from tariffs on the automotive industry. Trump expressed that he might give manufacturers time to review their "complex supply chains." This statement came after manufacturers indicated that they needed "a little time" to move production from Canada, Mexico, and other countries to the U.S.
U.S. President Donald Trump indicated the possibility of temporarily exempting the automotive industry from tariffs to give manufacturers time to review their "complex supply chains."
According to CBS News, Trump spoke to the press in the Oval Office regarding U.S. automakers. He suggested that manufacturers "need a little time" to move production from Canada, Mexico, and other countries to the U.S., implying that he could temporarily exempt the automotive industry from tariffs to allow them time to review their "complex supply chains."
TARIFFS HAD DISTURBED THE MARKET
President Trump announced on April 2 that the U.S. would impose reciprocal tariffs on other countries and revealed the basic tariff rates and varying customs duties by country. Trump, who raised tariffs on China in response to the U.S. tariff increase to as high as 125%, announced that additional tariffs on other trading partners would be suspended for 90 days. On March 26, Trump signed an executive order to impose a 25% customs duty on the import of automobiles and certain auto parts.