AutoExec Summary: The US President announced a partial reduction in automotive tariffs, allowing car manufacturers additional time to reorganise supply chains towards American production. The 25 per cent tariff on imported vehicles remains, but car makers will be exempt from additional tariffs on steel, aluminium, and specific imports from Mexico and Canada. A new exemption scheme for imported parts will also be implemented over the next two years, with varying percentage claims on vehicle prices.
Brands mentioned: Ford, General Motors (GM), Stellantis, Jeep, Chrysler, Ram Trucks, Audi, Volkswagen, Jaguar Land Rover.