Trump relaxes some tariffs on automobiles, auto parts

President Trump is relaxing some of his 25 percent tariffs on automobiles and auto parts. After hearing from auto CEOs worried about the negative impact of tariffs, the Trump administration is dialing back some of the import taxes on vehicles and parts. The president said it’s a move giving automakers more time to move productions into the U-S. Automakers that finish their vehicles domestically will receive a 15 percent rebate this year, offsetting the cost of the tariffs.