Posted on 03/05/2025 11:28:54 AM PST by Miami Rebel
The White House on Wednesday announced a one-month tariff exemption for automakers after President Donald Trump spoke a day earlier with heads of General Motors , Ford Motor and Stellantis .
Automakers have urged Trump to waive 25% tariffs on Mexico and Canada on vehicles that comply with the United States-Mexico-Canada Agreement’s rules of origin.
“Reciprocal tariffs will still go into effect on April 2, but at the request of the companies associated with USMCA, the president is giving them an exemption for one month so they are not at an economic disadvantage,” Press Secretary Karoline Leavitt said on behalf of Trump.
Leavitt confirmed the automakers requested the Tuesday call with Trump, who mentioned it during his address to Congress later in the day.
The White House said it granted a one-month delay for tariffs on automakers whose cars comply with USMCA, which was negotiated under Trump’s first term in office.
Shares of those automakers were up between 4% and 9% early Wednesday afternoon.
(The only beneficiaries of tariffs on auto assembly and components are the Koreans and Japanese.)
I keep hearing that components can cross borders multiple times. I say, if the company can’t figure out they will go out of business and that needs to happen. Stop giving them passes!
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