April 30, 2025 10:30 AM

Trump eases auto tariffs burden as Lutnick touts first foreign trade deal

U.S. President Donald Trump signed a pair of orders to soften the blow of his auto tariffs on Tuesday with a mix of credits and relief from other levies on materials, and his trade team touted its first deal with a foreign trading partner. The developments helped eased some investor worries about the erratic trade policies of Trump as the president visited Michigan, a cradle of the U.S. auto industry, just days before a fresh set of 25% import taxes was set to kick in on automotive components. ...