The Trump administration is set to announce modifications to tariffs on imported cars and parts aimed at easing the financial burden on automakers. While a 25% tariff remains, the new measures will prevent stacking with other tariffs on metals like steel and aluminum. Automakers will also receive reimbursements for tariffs on components, amounting to 3.75% of a new car's value in the first year. However, substantial tariffs will still lead to increased vehicle prices, repairs, and insurance costs. This approach seeks to support domestic manufacturing efforts.
We believe the president's leadership is helping level the playing field for companies like G.M. and all those that are committed to investing in domestic manufacturing.
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.
Collection
[
|
...
]