- The White House gives car manufacturers a one -month break on prices.
- Stellantis, Ford and General Motors asked Donald Trump the exemption.
- The White House said Trump was open to discussing other possible exemptions.
The White House granted automotive companies a month of one month on the prices after President Donald Trump spoke with representatives of the three major car manufacturers.
“At the request of the companies associated with the USMCA, the president gives them an exemption for a month so that they are not disadvantaged economic,” said the press secretary of the White House, Karoline Leavitt, to journalists. “The three companies to whom they spoke are Stellantis, Ford and General Motors. They asked for the call. They made the request and the president is happy to do so.”
This is not all good news for Detroit.
Leavitt said that car manufacturers will not get another break when the second tariff cycle linked to Trump’s commerce came into force on April 2. Additional prices on steel and aluminum should come into force on March 12. Motor manufacturers, of course, count strongly on these materials to make their products.
The actions have rebounded to Wall Street after the announcement, a potential panel that traders are optimistic that other transactions will be to come.
Trump’s current series of prices is linked to its point of view that Canada, Mexico and China are not enough to stop the fentanyl flow in the United States. The leaders of all countries have strongly disputed the position of the White House.
Commerce secretary Howard Lungick suggested on Tuesday that car manufacturers could obtain a pricing exemption. It remains to be seen if a wider truce will be reached.
Trump told Canada Prime Minister Justin Trudeau on Wednesday that his country had even more work to do.
“Justin Trudeau, Canada, called me to ask me what could be done on prices,” wrote Trump on Truth Social. “I told him that many people died of fentanyl who went through the borders of Canada and Mexico, and nothing convinced me that it stopped. He said it had improved, but I said:” It is not good enough. “”
Leavitt said Trump “is open to dialogue” on other exemptions.
businessinsider
