Trump team signals rollback on some tariffs to reduce pain for suffering auto industry

Quick Summary:

The White House confirmed a report in the Wall Street Journal that automakers won't face additional tariffs for goods like steel and aluminum.

The Center for Automotive Research in Michigan estimated earlier this month that the president’s 25% automotive tariffs would lead to an increased cost of $108 billion to all U.S.automakers.

This latest tweak to Trump’s trade policy is designed to offer companies more time to shift some production from overseas to the United States.

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Article Details

Author / Journalist: Christiaan Hetzner

Category: EconomyBusiness

Markets: United States

Topics: General Motors Donald Trump Autos Steel Tariffs and trade Ford Motor Aluminum

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-29 @ 11:59:47 (17 hours ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 742 words

Reading Time: 5 minutes read

Sentences: 4 lines

Sentence Length: 186 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Fortune

News ID: 28285496

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Official Website: fortune.com

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