Donald Trump to ease tariffs on auto parts, offers relief for US carmakers
[ad_1] File photo: US President Donald Trump (Picture credit: AP) US President Donald Trump is set to ease the impact of automotive tariffs, a move designed to support US carmakers by removing overlapping import duties on parts used in domestically assembled vehicles and reimbursing levies already paid, according to the news agency Reuters.The decision, which will be officially announced during Trump’s Tuesday visit to Michigan, comes amid growing concern from the auto industry over the economic fallout of sweeping tariffs. According to CNN, the revised structure will ensure that cars built in the US using imported components are not hit by cumulative duties, such as those on steel and aluminium, in addition to the 25 per cent auto tariff.“This deal is a major victory for the President's trade policy by rewarding companies who manufacture domestically, while providing runway to manufacturers […]