Trump's imposition of sweeping tariffs since returning to the presidency this year, followed by partial rollbacks, have rocked financial markets.
Image: Kamil Krzaczynski / AFP
US President Donald Trump's administration has yet to make a final decision about adjusting tariffs on auto imports, the White House said Thursday, although it is considering "streamlining overlaps" between different types of duties.
This week, the Financial Times reported that Trump was planning to exempt auto parts from tariffs on Chinese goods -- imposed over the country's alleged role in the fentanyl supply chain -- and those on steel and aluminum imports.
But White House spokesman Kush Desai said: "No final decisions have been made by the White House on any potential changes to the auto tariffs."
The levies on imported automobiles also impact car parts.
The administration is examining "streamlining overlap" between 25 percent tariffs on imported autos and metals, as well as those imposed over illicit fentanyl, a White House official said.
But the official did not provide further details.
Trump's imposition of sweeping tariffs since returning to the presidency this year, followed by partial rollbacks, have rocked financial markets.
Some businesses in sectors hardest-hit by especially high rates on China -- at an additional 145 percent on many products -- have also halted imports as they try to wait out the sharp duties.
For now, business leaders have been working to change the president's mind.
Automobiles have not been hit by Trump's "reciprocal tariffs" involving a 10 percent rate on goods from most trading partners, and an added 125 percent on many products from China.
But they are still affected by sector-specific duties and those earlier slapped on Chinese imports this year over fentanyl.
Asked who the president listens to when it comes to trade policy, US Treasury Secretary Scott Bessent told reporters Wednesday that apart from Trump's economic team, "he has a vast network including the business community."
"He has business leaders come in all the time. We had the Walmart, Target and Home Depot CEOs in," Bessent said.
He added that representatives from major German auto companies have also spoken with the Trump administration.
AFP