Trump signals tariff relief for auto industry following exemptions on electronics

The Trump administration could be easing its trade pressures some more, as automakers and tech giants push back on looming tariffs.

Our Moon Hye-ryeon leads us this morning.

U.S. President Donald Trump has signaled another wave of temporary tariff suspensions — this time, for the auto industry.

Speaking to reporters on Monday, he said that he was looking to help car companies with potential pushbacks on his 25 percent tariffs on complete vehicle and parts imports.

“"I'm looking at something to help some of the car companies where they're switching to parts that were made in Canada, Mexico, and other places, and they need a little bit of time because they're going to make them here, but they need a little bit of time.”

He did not specify when this pause would be implemented nor how long automakers would be granted relief.

Levies on fully built vehicles took effect on April 3rd, and those on parts are due to be implemented in stages no later than May 3rd — prompting automakers to lobby for exclusions over the past few weeks.

Shares of U.S. car companies, including General Motors and Ford Motor Company, peaked following his comments — reflecting investor optimism that the administration may be softening its stance, at least temporarily, to cushion the impact of trade tensions on vehicle manufacturers.

Trump also mentioned that he had spoken to Tim Cook, the head of Apple, and “helped” him and “that whole business”.

On Friday, the Trump administration granted exemptions for popular consumer electronics from weighty tariffs on Chinese products and the baseline tariff on imports from other countries, stating that these products would instead be levied based on its national security investigation on semiconductors.

Amid these shifts in trade policy, the U.S. stock market has seen fluctuations — and following these exemptions, Wall Street showed gains on Monday.

The Dow Jones and S&P 500 both ended around point-eight percent higher than the previous session, while the tech-heavy Nasdaq rose more than point-six percent.

Moon Hye-ryeon, Arirang News.