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Trump eases tariffs on imported auto parts through executive order

  • On Tuesday, President Donald Trump authorized an executive action aimed at reducing some of the planned 25% tariffs on imported automobile parts in the United States.
  • This order responds to industry concerns about tariffs beginning May 3 that threatened to raise prices and disrupt auto manufacturing supply chains.
  • The administration offers automakers a rebate equal to 3.75% of a vehicle's value for one year and 2.5% the following year to offset tariff costs.
  • Ford CEO Jim Farley expressed gratitude for President Trump's actions, emphasizing the company's ongoing commitment to expanding manufacturing operations within the United States.
  • The rebate system aims to assist domestic vehicle assembly and supply chain stability, but the full economic impact of tariffs remains uncertain.
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Portfolio.hu broke the news in on Tuesday, April 29, 2025.
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