Trump Offers Automakers Some Relief On His 25% Tariffs

10 weeks ago The White House says President Donald Trump will sign executive orders Tuesday to relax some of his 25% tariffs on autos and auto parts. It's a significant reversal as the import taxes threatened to hurt domestic manufacturers. Automakers and independent analyses have indicated that the tariffs could raise prices, reduce sales and make U.S. production less competitive worldwide. Trump portrayed the changes as a bridge toward automakers moving more productions into the United States. A senior Commerce Department official says the administration will offer automakers that finish their vehicles domestically a 15% rebate this year, offsetting the cost of the tariffs. That rebate would be 10% the second year, giving automakers some time to relocate production of parts to the U.S.