By proposing changes to his administration’s tariff policy, President Trump has loosened his strict trade position toward automakers. The actions have received hesitant support from an industry that has been negatively impacted by increased import prices, according to Reuters.
The president issued an executive order on Tuesday that gives automakers a two-year grace period to move their supply networks to the US.
Trump said the adjustments are intended to allow manufacturers time to adapt without hurting consumers while he was in Detroit to commemorate his 100th day in office. He stated, “We simply wanted to support them during this brief transition.”
Duplicate charges on imported automobiles and essential materials like steel and aluminum are addressed in the revised proposal.
