Trump’s administration said it plans to announce measures on Tuesday to facilitate the impact of invoices on imported cars and car parts to give automakers more time to relocate production to the United States.
25 % invoices in imported vehicles and car segments will remain in force. But the invoices will be modified so that they are not stacked with other invoices, for example steel and aluminum, a White House spokesman said. The automakers should not pay invoices to these metals, widely used in cars, over invoices in cars and places.
In addition, automakers will be returned for some of the costs of invoices to imported components. The return will be up to 3.75 % of the value of a new car in the first year, but will be gradually abolished over two years, the spokesman confirmed.
A 25 % invoice to imported cars came into force on April 3. On Saturday, the invoices will be expanded to include imported parts.
“President Trump builds a major partnership with both domestic automakers and our major US workers,” Howard Lutnick, the secretary of the trade, said in a statement. “This agreement is a major victory for the president’s commercial policy, rewarding companies that build the domestic market, while providing a corridor to manufacturers who have expressed their commitment to invest in America and expand their domestic construction.”
Karoline Leavitt, White House Secretary, told a press conference on Tuesday morning that Trump will sign an executive mandate associated with car invoices later on the day. In the same information, Finance Minister Scott Bessent refused to share details of any relief that automakers could get from invoices, but said politics would focus on encouraging them to bring more production back to the United States.
Even with scheduled changes, there will still be important invoices for imported cars and car accessories, which will increase prices for new and used cars by thousands of dollars and increase the cost of repairs and premiums.
The invoices were mentioned earlier than the Wall Street Journal. Mr Lutnick helped the automakers to secure a significant exemption from invoices in March and took on a role that supports relief for some industries affected by contributions.
The automakers welcomed the change. “We believe that the president’s leadership helps at the level of competition for companies such as GM and allowing us to invest further in the US economy,” said Mary T. Barra, chief executive of General Motors, in a statement on Monday. “We appreciate productive talks with the president and his administration and we look forward to continuing to work together.”
Alan Rapport They contributed reports.
