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Trump enticing automakers with tariff relief: Industry expert

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The executive order allows for relief so automakers can start manufacturing in the U.S.
Former President Donald Trump has proposed enticing automakers to move their manufacturing operations back to the United States by offering tariff relief on imported cars, according to a report by Reuters. Trump's proposal aims to counter the trend of automakers shifting production to countries like China and Mexico, where labor costs are lower. The plan involves reducing or eliminating the 25% tariff on imported vehicles if companies agree to build new factories in the U.S. This move is seen as an attempt to boost domestic manufacturing and create jobs, aligning with Trump's "America First" economic policy. However, the proposal faces challenges, including potential opposition from current trade partners and the need for Congressional approval.

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[ https://www.yahoo.com/news/trump-enticing-automakers-tariff-relief-163458896.html ]