FAMAGUSTA GAZETTE – U.S. President Donald Trump plans to exempt certain car parts from tariffs as part of a “destacking” plan, according to the Financial Times.
While the exemptions would relieve some duties on car parts, the 25% tariff on foreign-made cars and a separate 25% levy on parts are set to remain, with the latter taking effect May 3.
The move comes amid criticism from U.S. auto companies, which have pushed for further exemptions to avoid price hikes, supply chain disruptions, and job losses.
Stellantis Chairman John Elkann warned that Trump’s trade policy risks harming both American and European car industries.