The Trump administration plans to ease some tariffs on automakers to ensure companies don’t have twice, now imposing a 25% import tax on auto parts, and 25% on steel and aluminum.
President Trump will travel to Michigan, a base in the U.S. auto industry, to commemorate the first 100 days of his second term.
"President Trump is building important partnerships with domestic automakers and our great American workers," said Commerce Secretary Howard Lutnick. "This deal will be a major victory for the president's trade policy, which rewards companies already manufactured at home while providing a runway to manufacturers that have expressed their commitment to investing in the United States and expanding their domestic manufacturing industry."
this 25% tariff on imported vehicles And auto parts will be retained, but automakers will not pay an additional 25% import tax on imported steel and aluminum. The government said it would also provide reimbursements to automakers that have already paid double tariffs.
Stellantis chairman John Elkann's brands include Chrysler, Dodge, Jeep and Ram, praised the Trump administration's move to weaken tariffs in the automotive industry.
"Stellantis thanks President Trump for the decision of tariff remedies," he said in a statement. "While we further assess the impact of tariff policies on North American business, we look forward to continuing to work with the U.S. government to enhance the competitive U.S. auto industry and stimulate exports."
Ford CEO Jim Farley expressed support for Mr. Trump's decision to exempt him from the impact of tariffs. Some vehicles may increase their prices Up to $10,000 Analysts say it is due to tariffs.
"Ford welcomes President Trump's decisions and thanks President Trump for these decisions, which will help mitigate the impact of tariffs on automakers, suppliers and consumers," Farley said in a statement. "We will continue to work closely with the administration to support the president's vision for the healthy and growing automotive industry in the United States. Ford sees policies that encourage exports and ensure an affordable supply chain to promote more domestic growth."
Meanwhile, GM posted its first-quarter call on Tuesday to discuss its guidance and quarterly results from April 29 to May 1 in order to assess potential tariff changes. General Motors released strong financial results in the first quarter of Tuesday, but said it would reassess its expectations for 2025 due to tariffs from the Trump administration.
“We think the future impact of tariffs may be huge, so we are reevaluating our guidance and looking forward to sharing more when we are clearer,” General Motors Chief Financial Officer Paul Jacobson said on a media call on Tuesday. “Previous guidance cannot be relied on, and we will return to the market clearly once we have it.”