home
article
US Commerce Secretary Announces Easing of Auto Tariffs to Boost Domestic Manufacturing

US Commerce Secretary Announces Easing of Auto Tariffs to Boost Domestic Manufacturing

ai generated text

On Tuesday, President Trump will sign an executive order that will give automakers a break on some of his tariffs. The move means that car companies paying tariffs on foreign parts will not be charged for other levies, such as those on steel and aluminum. Commerce Secretary Howard Lutnick described the deal as a "major victory for the President's trade policy," and stated that it would allow for the building of an important partnership with both domestic automakers and American workers.

Howard Lutnick
US Department of Commerce
1. 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.
2. President Trump is building an important partnership with both the domestic automakers and our great American workers.
Scott Bessent
US Treasury Department
1. So we want to give the automakers a path to do that, quickly, efficiently and create as many jobs as possible.
2. We will be speaking to all of those partners, or at least 17 of them the over the next few weeks. Many of them have already come to Washington.
3. I wouldn't think that we would have supply chain shocks. I think retailers have managed their inventory in front of this.
4. President Trump has had meetings with both domestic and foreign auto producers, and he's committed to bringing back auto production to the US.
5. I speak to dozens of companies, sometimes daily, but definitely weekly. They know that President Trump is committed to fair trade, and have planned accordingly.
6. They have some internal matters to decide before they can engage in an external negotiation.