U.S. Automakers Exempt from Incoming Tariffs for Additional Month
The White House will be exempting automakers from proposed tariffs for an additional month, reports CBS News.
The news was first shared this past Wednesday from White House press secretary Karoline Leavitt, and came after Donald Trump spoke with leaders from Ford, General Motors, and Stellantis.
While 25% tariffs on all goods imported from Canada and Mexico and an additional tariff of 10% on Chinese imports took effect on March 4, automakers in the U.S. will have another month to adapt their supply chains.
In his conversation with the three automakers, Trump “told them they should get on it, start investing, start moving, shift production here to the U.S. of America, where they will pay no tariffs. That's the ultimate goal,” according to Leavitt.
“We will continue to have a healthy and candid dialogue with the administration to help achieve a bright future for our industry and U.S. manufacturing,” said Ford in a statement.
Canada and China have already enacted retaliatory actions to the tariffs, with Mexico expected to announce its response on Sunday.
