Michaela
President Donald Trump has announced he is considering targeted tariff exemptions for carmakers, offering them more time to set up US-based production in light of previous tariff actions.
During an interview in the Oval Office with El Salvador’s President Nayib Bukele, President Trump mentioned that automakers “need a little bit of time” to move production from Canada, Mexico, and other countries to the U.S. The intricate nature of car manufacturers’ supply chains presents significant challenges in fully relocating vehicle production to the U.S., given the interconnectedness of global networks.
“I’m looking at something to help some of the car companies, where they are switching to parts that were made in Canada, Mexico, and other places,” President Trump stated. “They’re going to make them here, but they need a little bit of time — so I’m talking about things like that.”
Trump’s consideration of car part tariff exemptions comes on the heels of his administration’s earlier move to exclude electronic devices — such as smartphones, iPhones, and laptops — from reciprocal tariffs. The approach reflects his broader position that maintaining “flexibility” is essential during active trade talks.
Additionally, President Trump repeated remarks from the previous week, emphasizing the importance of maintaining flexibility as tariff negotiations with multiple countries continue.
“Look, I’m a very flexible person. I don’t change my mind, but I’m flexible, and you have to be. You just can’t have a wall, and you’ll only — sometimes you have to go around it, under it, or above it,” President Trump told reporters. “There will be maybe things coming… I don’t want to hurt anybody, but the end result is we’re going to get to the position of greatness for our country,” he added.
President Trump recently announced a 90-day pause on imposing new “reciprocal tariffs,” alongside a lowered 10% tariff rate for countries that choose not to strike back with their own trade penalties.
According to President Trump, over 75 nations have reached out to U.S. agencies—including the Departments of Commerce, Treasury, and the U.S. Trade Representative—to begin discussions on a wide range of trade matters, including tariffs, market access, and currency practices. He noted that, following his appeals, these countries have so far held off on taking retaliatory steps.
Tariffs on fully assembled automobiles are already being enforced under the Trump administration’s trade policy, while additional duties on imported auto parts are scheduled to take effect by May 3, 2025.
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
