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Donald Trump was voted for one month for a one -month remedy for tariffs on imports of Mexico and Canada.
White House Secretary of the White House, Karolin Levitz, said on Wednesday that he talked with Chrysler and Jeep manufacturers, Stellantis, Ford and General Motors.
Leavitt added that this exemption will be applied to a car that comply with the 2020 trade transaction conditions between the US, Mexico and Canada.
Leavitt said, “The president is exempted for a month, so it is not economic disadvantage.
Trump’s administration said the exemption would later be applied to auto parts that comply with USMCA contracts. Parts describe the industry between North American borders.
This pioneer comes after the market reacts on Tuesday’s 25 %tariffs on Canada and Mexico imports and 10 %of additional imposition in China.
At some point, the profits disappeared after all S & P 500 elections before the index began again. The index increased strongly on Wednesday, increasing 1.1 %.
The stock price of US automakers increased 5.8 % and GM increased 7.2 %, while Stellantis’ US listed deposit receipt soared 9.2 %. Japan’s Honda and Nissan rose 2 %, and other car groups were also gained.
Nomura analysts’ previous modeling estimates that tariffs on vehicles imported into the United States, which do not comply with USMCA, will have a negative impact on Mazda, Subaru, Mitsubishi Motors and modern interests.
The tariffs between Mexico and Canada were punitive to the automotive industry because of the complex supply chains that flooded North America.
Trump’s tariffs have increased in North America’s trade war. Canada responded with a steep charges for all US imports. Mexico said it plans to announce a response on Sunday.
As a sign of tensions raised by the early trade war, the prime minister of Justin Trudeau said that Washington would not raise Canada’s retaliation tariffs if Washington maintained a fee for Ottawa, the high -ranking government adviser to the Financial Times.
Flavio Volpe, the head of the Canadian Automobile Parts Manufacturers (AUTOMOTITIVECES MANUFACTURERS ”Association, added that the industry’s trials for a month will not solve the problems of business and workers who are afraid of job losses and factory closures.
He said: The evidence of this is the fact that it was a US company that asked for this remedy, not Canada or Mexico. ”
Washington’s Stellantis, Ford, and GM’s representatives of the American Automotive Policy Council welcomed this action. GM said the new approach allows US automakers to compete and invest in Korea.
Toyota said, “If the situation becomes clearer, you are ready to make a quick and optimal decision.” The executives of Japanese automakers said they tried to reduce costs before raising the price of the vehicle by responding to tariffs.
The auto industry management said Toyota could get more vehicles in the United States before taking 30 days of rest to increase production in the US and Canada, but warned of a “serious impact” if tariffs were applied to US imports in Mexico and Canada.
Leavitt suggested that more industries will be able to create examples from tariffs.
“He always has an open conversation and will always do that. . . What is right is that he believes that what he believes is right for Americans. ”
But Leavitt said Trump’s “mutual” tariffs will still be implemented as planned on April 2.
“He feels strong about it, regardless of exemption,” she said. “So it’s a month.”
Trump told the companies, “I get it.” “This is the ultimate goal.”
At the beginning of Wednesday, the US Secretary of State Howard Lutnick said the president said he would “consider” the slogan of a particular sector.
But he suggested that Mexico and Canada could repeat the Trump administration’s dissatisfaction with the fact that they could not prevent the massive trafficking of the fatal opioid Pentanil.
Additional Report from Chicago’s Claire BUSHEY
