The auto industry can breathe a little easier when it comes to tariffs.
While the 25% tariffs will remain in place on imported vehicles and auto parts, they will be modified to ensure they don’t “stack” on top of other tariffs, such as those on aluminum or steel. Automakers will not have to pay tariffs on those widely used products.
White House press secretary Karoline Leavitt said at a Tuesday briefing that Trump will sign an order regarding auto tariffs later this afternoon before he travels to Michigan for a rally observing his first 100 days in office. She did not go into detail about the order, however.
The 25% tariff on imported cars took effect April 3. The tariff on imported parts is scheduled to go into effect on Saturday, May 3.
