Trump to reduce impact of auto tariffs, commerce secretary says

US President Donald Trump's administration will move to reduce the impact of his automotive tariffs on April 29 by alleviating some duties imposed on foreign parts in domestically manufactured cars and keeping tariffs on cars made abroad from piling on top of other ones, officials said, Report informs via Reuters.

"President Trump is building an important partnership with both the domestic automakers and our great American workers," Commerce Secretary Howard Lutnick said in a statement provided by the White House.

"This deal is a major victory for the President's trade policy by rewarding companies who manufacture domestically, while providing runway to manufacturers who have expressed their commitment to invest in America and expand their domestic manufacturing.”

The Wall Street Journal, which first reported the development, said the move meant car companies paying tariffs would not be charged other levies, such as those on steel and aluminum, and that reimbursements would be given for such tariffs that were already paid.