A top White House official says President Donald Trump is set to take action to ease the impact of his tariffs on US car makers.
Commerce Secretary Howard Lutnick, in a statement provided to Reuters, said this deal is a major victory for the president’s trade policy by rewarding companies who manufacture domestically.
The president will announce measures to reduce some import duties on parts from abroad that are used in vehicles manufactured in the US.
In addition, while cars made outside the country will still be subject to automotive tariffs, they will not be hit with further levies like those on steel and aluminium products, the Wall Street Journal reported earlier.
Trump is due to hold a rally in Michigan on Tuesday to mark his first 100 days in office.
The state is home to the so-called ‘Detroit Three’ carmakers – Ford, General Motors and Stellantis – and a network of more than 1,000 major suppliers to the industry.
Trump has put tariffs at the centre of his economic plans, describing it as “the most beautiful word in the dictionary”.
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