Trump on Monday suggested that he could temporarily exempt the auto industry from tariffs that he was first placed on the sector, so that car makers could be given time to accommodate their supply chains. At the Oval Office, Trump said, “I am watching something to help some of the car companies with it.”
He said that vehicle manufacturers need time to move production from Canada, Mexico and other places, “and they need some time because they are going to make them here, but they need some time. So I’m talking about such things.” The statement indicated another round of another round on the tariff as Trump’s import tax attacks have terrified the financial markets and raised deep concerns from economists about a possible recession. When Trump announced 25% auto tariff on March 27, he described them as “permanent”.
Their tough lines on trade have become rapidly blurred as they have sought to limit the potential economic and political shock from their policies.
