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Trump Signals Potential Auto & Parts Tariff Exemption; Auto Stocks Spike 3%
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U.S. President Donald Trump said on Monday that he is exploring the possibility of exempting tariffs on imported cars and parts to give automakers more time to establish manufacturing plants in the U.S. A 25% tariff on whole vehicles took effect in early April, while tariffs on auto parts are set to begin on May 3. Trump noted he is weighing measures to support automakers, emphasizing that automakers need time to relocate factories to the U.S. The news spurred increases across the sector, with General Motors (GM.US), Ford (F.US) and Stellantis (STLA.US) all leaping over 3%. AAStocks Financial News |
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