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Trump to reduce impact of auto tariffs, officials say

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President Donald Trump's administration will move to reduce the impact of his automotive tariffs on Tuesday by alleviating some duties placed on foreign parts in domestically manufactured cars and keeping tariffs on cars made abroad from stacking on top of other ones,
President Donald Trump is set to announce measures to mitigate the impact of auto tariffs on the U.S. auto industry, according to administration officials. The move comes as a response to the ongoing trade tensions with the European Union and Japan, which have threatened to impose retaliatory tariffs on American-made vehicles. Trump's plan includes providing financial assistance to auto manufacturers and their suppliers, as well as exploring alternative trade agreements to reduce the reliance on tariffs. The administration aims to protect American jobs and maintain the competitiveness of the U.S. auto industry amidst the global trade disputes.

Read the Full Reuters Article at:
[ https://www.msn.com/en-us/news/politics/trump-to-reduce-impact-of-auto-tariffs-officials-say/ar-AA1DNwHf ]