Markets Boosted As Trump Softens Tariff Pain For Auto Firms

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,

Lutnick was quoted as saying by CNN

Tariffs on auto parts will scramble the global automotive supply chain and set off a domino effect that will lead to higher auto prices for consumers, lower sales at dealerships and will make servicing and repairing vehicles both more expensive and less predictable,

the industry groups urged

We believe the president's leadership is helping level the playing field for companies like GM and allowing us to invest even more in the U.S. economy,

he said

As I've repeatedly said, I believe it's up to China to de-escalate, because they sell five times more to us than we sell to them. So these 125 per cent tariffs are unsustainable,

he said in an interview aired Monday

While consumer and business survey data continue to plunge, the hard data has shown resilience, a trend likely to persist for a month or two until the effects of the Liberation tariffs become evident mid-year,

said Tony Sycamore, a market analyst at IG

We're grateful to President Trump for his support of the US automotive industry and the millions of Americans who depend on us,

she told the BBC in an emailed statement