On April 29, 2025, President Trump signed an executive order designed to ease the effect of tariffs on U.S. carmakers. The order removes levies that vehicle manufacturers have complained would raise the cost of production, force them to increase prices and harm company profitability. The executive order says manufacturers that pay a 25% tariff on imported vehicles won’t be subject to other levies, such as those on steel and aluminum. Also, companies assembling cars in the U.S. will receive an adjustment to the tariff on certain imported auto parts.
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