WASHINGTON (AP) — President Donald Trump signed executive orders Tuesday to relax some of his 25% tariffs on automobiles and auto parts, the White House said, a significant reversal as the import taxes threatened to hurt domestic manufacturers.
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. “We didn’t want to penalize them. ”
Treasury Secretary Scott Bessent, who spoke earlier at a White House briefing on Tuesday, said
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