Trump to ease tariff impact on carmakers

U.S. President Donald Trump will ease the tariff impact on American carmakers who have been affected by tax accumulations, several local media outlets reported on Monday.

According to the Wall Street Journal, the first media outlet to disclose this information, manufacturers paying a 25 percent tariff on imported vehicles assembled abroad will be exempt from paying other taxes, such as those on spare parts, steel or aluminum.

This measure comes as Donald Trump is set to celebrate his first 100 days in office on Tuesday evening with a rally in Warren, near Detroit, the heart of the American automotive industry.

American automakers have been among the most affected by the tariffs imposed by Donald Trump, which have impacted the vehicles they import from their plants located in Mexico and Canada.

“This agreement will be a major victory for the president's trade policy by rewarding companies that already produce on American soil, while providing a pathway for manufacturers who have expressed a desire to invest in America and expand domestic production,” said Commerce Secretary Howard Lutnick, as quoted by the Wall Street Journal.