Trump's autos tariff relief aimed at reshoring production to US, Lutnick says

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Trump's autos tariff relief aimed at reshoring production to US, Lutnick says

//automotive-transportation.news-articles.net/co .. -at-reshoring-production-to-us-lutnick-says.html

Published in Automotive and Transportation on Thursday, May 1st 2025 at 11:21 GMT by ThePrint
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

By David Lawder and Andrea Shalal WASHINGTON (Reuters) -U.S. President Donald Trump will sign an order on Tuesday giving automakers building vehicles in the U.S. relief from part of his new 25%

In an interview with Bloomberg TV, Howard Lutnick, CEO of Cantor Fitzgerald, discussed the potential impact of former President Donald Trump's proposed auto tariffs, suggesting that they were designed to encourage car manufacturers to relocate production back to the United States. Lutnick indicated that the threat of a 10% tariff on imported cars was a strategic move to pressure companies into reshoring their manufacturing operations. He noted that while the tariffs were not implemented during Trump's presidency, the mere threat of them influenced companies to consider moving production to the U.S. to avoid future costs. Lutnick also mentioned that such a policy could be revisited if Trump were to win the 2024 presidential election, potentially affecting global automotive supply chains.

Read the Full ThePrint Article at:
[ https://theprint.in/world/trumps-autos-tariff-relief-aimed-at-reshoring-production-to-us-lutnick-says/2608971/ ]

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