White House Plans to Extend Tariff Relief for US Auto Industry
Key Highlights
- - The White House plans to announce a five-year extension of tariffs relief for the auto industry.
- - The move follows lobbying efforts by major automakers including Ford and GM.
- - The extension allows automakers to reduce tariffs on imported car parts, lowering production costs.
- - This policy change aims to boost the competitiveness of US automakers in the global market.
- - The announcement could be made as soon as today, signaling a significant shift in trade policy.
The White House plans to ease tariffs on the US automotive industry. The Commercr Department plans to announce a five-year extension that allows automakers to reduce what they pay in tariffs on imported car parts. Previously, said provision was set to end after two years.
This announcement could be made as soon as today. This change comes after months of aggressive lobbying by carmakers including Ford Motor Co. and General Motors Co.
For more information on the ease in tariffs and what they mean for automakers visit: US Nears Tariff Relief for Auto Industry After Lobbying Push