President Donald Trump signaled he may again reverse himself on a key part of his tariff plan, this time telling reporters that he is “looking at” temporary exemptions from the 25% tariffs covering imported autos and auto parts. Experts warned that plan would add thousands of dollars to the cost of both U.S. and foreign-made vehicles and cost the industry nearly 2 million sales for all of 2025. Headlight.News has more.
Hyundai said it will temporarily refrain from passing on to consumers any additional tariff costs as part of a new “Customer Assurance” program. That could add up to thousands of dollars on a new vehicle as a result of the new tariffs enacted by President Donald Trump this week. But the program runs only through the beginning of June. Other automakers are weighing their own plans which, for VW means making it clear to buyers why they’ll soon pay more for their vehicles. Headlight.News has more.
Little more than a day after announcing plans to enact 25% tariffs on goods imported from the Mexico and Canada, Pres. Donald Trump threw a temporary lifeline to the auto industry by granting a one-month reprieve on automotive parts and vehicles. But the threat remains that sanctions could still follow if the U.S. can’t reach resolution with its two neighbors and leading trade partners – something Ford CEO Jim Farley warned “would blow a hole in the U.S. industry.”