Trump to reduce impact of auto tariffs, officials say

[WASHINGTON] 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, officials said.

“President Trump is building an important partnership with both the domestic automakers and our great American workers,” Commerce Secretary Howard Lutnick said in a statement.

“This deal is a major victory for the President’s trade policy by rewarding companies who manufacture domestically, while providing runway to manufacturers who have expressed their commitment to invest in America and expand their domestic manufacturing.”

The Wall Street Journal first reported the development. REUTERS