Trump proposes exempting automakers from some tariffs

Planet Daily News: According to the Financial Times, U.S. President Trump plans to exempt some of the most stringent tariffs on automobile manufacturers, which is another concession in the trade war following recent intensive lobbying by automotive industry executives. According to two informed sources, this move will exempt automotive parts from two tariff impacts: one is the tariffs imposed on some imported goods to combat fentanyl production, and the other is tariffs on steel and aluminum products. However, the 25% tariff on all imported complete vehicles will remain in place. Another 25% tariff on automotive parts will also be retained and will take effect from May 3rd. Although the United States had previously excluded automotive goods from "reciprocal" tariffs on major trading partners, U.S. automotive companies have been seeking more exemptions. These concessions will mark a preliminary victory for the automotive industry and another retreat by Trump on his most aggressive tariffs. Informed sources said that current negotiations are mainly focused on simplifying the taxation process, such as relaxing the rules of origin requirements for automotive parts. This policy adjustment reflects that while maintaining the core stance of the "America First" trade policy, the Trump administration is making pragmatic responses to pressures from specific industries.