Donald Trump’s next you -turn when it comes to punitive rates. Because the high rates bring car manufacturers in the US in trouble, the American president apparently considers a break.
Trump has at least temporary exceptions to his far -reaching rates. The car companies would need a little more time to change their supply chains to share production in the US, the US president said. That is why he is currently checking how he can help some manufacturers.
Trump has not provided any information about what the specific measures look like and how long it could take.
Shares of the American automatic giants added
Trump had imposed rates of 25 percent on vehicles imported into the US – and at the beginning of May the rates must also follow the imported components. At the same time, some vehicles from Mexico and Canada are already excluded as part of a North -American trade agreement. The shares of the American Auto-Cars General Motors and Ford grew after the announcement of Trump.
Also excluding electronic products from China
Trump’s government already had electronic products such as smartphones and laptops from China from its extra rates of 125 percent at the weekend. A big winner of this step is Apple: most iPhones are still being built in China, even if the group has expanded production in India and Vietnam. At the same time, the White House emphasizes that the exceptions are limited and that electronics must fall under planned chip rates.
Trump was asked for Apple on Monday and said that he spoke with CEO Tim Cook and will be flexible: “I don’t want to harm anyone.” He recently helped cook.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
