Trump says his relief on 25% auto tariffs is bid to help carmakers ‘during this little transition’ to building in U.S.

Quick Summary:

Automakers and independent analyses have indicated that the tariffs could raise prices, reduce sales and make U.S.production less competitive worldwide.

Trump portrayed the changes as a bridge toward automakers moving more production into the United States.“We just wanted to help them during this little transition, short term," Trump told reporters.

Arthur Laffer, whom Trump gave the Presidential Medal of Freedom to during his first term, said in a private analysis that the tariffs without any modifications could add $4,711 to the cost of a vehicle.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Josh Boak, Alexa St. John, The Associated Press

Category: EconomyBusiness

Markets: United States

Topics: Car manufacturing Imports Tariffs and trade Tariffs Carmakers

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-30 @ 09:19:43 (19 hours ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 972 words

Reading Time: 6 minutes read

Sentences: 6 lines

Sentence Length: 162 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Fortune

News ID: 28296277

View Article Analysis

About Fortune

Main Topics: EconomyBusiness

Official Website: fortune.com

Update Frequency: 70 posts per day

Year Established: 1929

Headquarters: United States

News Last Updated: 8 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #95

Publisher Details

Frequently Asked Questions