Trump says his relief on 25% auto tariffs is bid to help carmakers ‘during this little transition’ to building in U.S.

Quick Summary:

Automakers and independent analyses have indicated that the tariffs could raise prices, reduce sales and make U.S.production less competitive worldwide.

Trump portrayed the changes as a bridge toward automakers moving more production into the United States.“We just wanted to help them during this little transition, short term," Trump told reporters.

Arthur Laffer, whom Trump gave the Presidential Medal of Freedom to during his first term, said in a private analysis that the tariffs without any modifications could add $4,711 to the cost of a vehicle.

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Article Details

Author / Journalist: Josh Boak, Alexa St. John, The Associated Press

Category: EconomyBusiness

Markets: United States

Topics: Imports Carmakers Tariffs Tariffs and trade Car manufacturing

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-30 @ 09:19:43 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 972 words

Reading Time: 6 minutes read

Sentences: 6 lines

Sentence Length: 162 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Fortune

News ID: 28296277

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Official Website: fortune.com

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