WASHINGTON / LONDON (IT BOLTWISE) – The US auto industry is getting a major boost from President Trump’s extension of tariff benefits. The refunds were originally scheduled to expire in 2027, but manufacturers can now benefit from the discounts until 2030. This is intended to strengthen the competitiveness of Ford, General Motors and other US manufacturers.
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President Trump’s decision to extend tariff breaks for the US auto industry has far-reaching implications for the market. These benefits were originally scheduled to expire in 2027, but now manufacturers can benefit from a refund of up to 3.75 percent of the sales price until 2030. This measure is intended to strengthen the competitiveness of US manufacturers, especially in view of the high import tariffs on vehicles and components.
Trump imposed tariffs of 25 percent on imported cars and components in the spring to protect domestic industry. These tariffs also affect trucks and buses, with the duty on trucks also being 25 percent. For vehicles built in the USA, manufacturers can receive a refund of 3.75 percent of the sales price by 2030. The duty on buses was set at ten percent.
The extension of the tariff concessions is a response to the concerns of US manufacturers such as Ford Motor and General Motors. They saw the trade agreement with Japan, which set a 15 percent tariff on vehicles built there, as a problematic deal for American industry. For vehicles assembled in the USA, the proportion of imported components, on which tariffs of 25 percent may be due, is 40 to 50 percent.
Shares of General Motors and Ford reacted negatively to the announcement. On Monday, General Motors shares temporarily traded 0.81 percent lower at $57.91 on the NYSE, while Ford shares were down 6.16 percent at $20.41. These losses reflect the uncertainties surrounding the new trading conditions and show that markets have yet to assess the long-term impact of tariff policy.
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