Stellantis, Ford, Normal Motors secure month | Australian Markets
Much less than 24 hours after US President Donald Trump warned Canada and Mexico that reciprocal tariffs would come into impact on April 2, he has granted exemptions that can delay implementation in a single sector.
Some firms within the auto industry will now have tariffs delayed on automobiles despatched to the US from Canada and Mexico to keep away from “economic disadvantage”.
“We spoke with the Big Three auto dealers. We are going to give a one-month exemption on any autos coming through USMCA,” Mr Trump mentioned in a assertion that was learn to reporters.
The Large Three contains Stellantis, Ford and Normal Motors.
White Home Press Secretary Karoline Leavitt mentioned: “Reciprocal tariffs will still go into effect on April 2.”
“But at the request of the companies associated with USMCA, the president is giving them an exemption for one month so they’re not at an economic disadvantage.”
Ms Leavitt defined that the exemption wouldn’t be everlasting,
“He (Mr Trump) told them they should get on it, start investing, start moving, shift production here to the United States of America, where they will pay no tariff,” Ms Leavitt mentioned.
“That’s the ultimate goal.”
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