N@N

Trump Softens Car Tariffs in Latest Reversal

In 2019, President Donald Trump announced a decision to reduce tariffs on imported cars and car parts, a move that was seen as a relief for automakers and consumers alike. This decision came after months of threats to impose tariffs as high as 25% on foreign-made vehicles, which had caused uncertainty and concern within the automotive industry. The reduction in tariffs was expected to lower the cost of imported vehicles and parts, potentially leading to more affordable prices for consumers and increased profits for automakers. This action was part of broader trade negotiations and was influenced by ongoing discussions with the European Union and Japan, key players in the global automotive market.

Read the Full Investopedia Article at:
[ https://www.investopedia.com/trump-to-lessen-tariffs-on-automakers-11724313 ]