Media: Trump plans to cancel some customs duties for automakers

Donald Trump prepares to ease customs pressure on automakers after intensive industry lobbying

As reported by TUT.AZ with reference to the Financial Times (FT), US President Donald Trump intends to exempt automakers from a number of customs duties, responding to active pressure from representatives of the automotive industry in recent weeks.

According to the publication's sources, this decision is designed to prevent a sharp jump in prices for American cars, disruption of supply chains, and job cuts in the industry. At the same time, the standard 25 percent duties on imported foreign cars will remain unchanged, as will similar tariffs on auto parts, which take effect on May 3.

Sources note that current negotiations with representatives of the automotive industry are aimed, in particular, at simplifying the mechanism for applying duties.

Official White House representatives declined to comment on this information, the FT writes.

Recall that on April 2, Trump announced the introduction of customs duties on goods from 185 countries and territories. Universal tariffs of 10% began to apply from April 5, and individual ones from April 9. In addition, from April 3, the US administration imposed 25 percent duties on all automotive imports.

On April 9, the American leader announced a 90-day suspension of additional import duties imposed on a reciprocal basis against a number of countries and territories. The White House clarified that this pause is related to trade negotiations, and during this period a "universal tariff of 10%" will be in effect.

At the same time, the US president increased tariffs on Chinese products to 125%. Taking into account the previously introduced 20 percent tariff for alleged insufficient efforts by the governments of Canada, China, and Mexico in combating fentanyl smuggling into the United States, the total duty on goods from China now reaches 145%.