Trump to ease 25% auto tariffs to support US carmakers, factory jobs

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Trump to ease 25% auto tariffs to support US carmakers, factory jobs - Business Standard

Quick Summary:

President Donald Trump will sign an executive order Tuesday to relax some of his 25 per cent tariffs on autos and auto parts, the White House said, a significant reversal as the import taxes threatened to hurt domestic manufacturers.

Treasury Secretary Scott Bessent, who joined Leavitt at the White House briefing, said the goal was to enable automakers to create more domestic manufacturing jobs.

White House press secretary Karoline Leavitt said at a Tuesday briefing that Trump would sign the order later in the day but declined to provide details on the order.