US Secretary of Commerce Howard Lutnick unveiled White House’s plans for US auto markers.
Key Quotes
- Adjustments to autos tariffs are aimed at allowing domestic automakers time to grow US plants, employment.
- The executive orders grew out of detailed conversation with domestic car makers.
- Manufacturers of US-built autos will get a 15% offset for the value of those vehicles against parts imports.
- This will help domestic car makers to move supply chains to US.