Tariffs, Trump eases duties on cars and components

Washington (USA), April 29 (LaPresse) – The Trump administration is set to announce a series of measures aimed at easing the impact of tariffs on imported cars and auto parts, giving automakers more time to shift production to the United States. The 25% tariffs on imported vehicles and parts will remain in place. However, an administration official explained that the tariffs will be adjusted so they do not "stack" with other duties, such as those on steel and aluminum. Automakers will therefore not have to pay tariffs on those metals in addition to those on cars and components. In addition, car manufacturers will be reimbursed for part of the cost of tariffs on imported parts. The reimbursement will amount to up to 3.75% of the value of a new car in the first year but will be gradually phased out over two years, the official said. The 25% tariffs on imported cars went into effect on April 3, while starting Saturday, the tariffs will be extended to imported components.