US Lutnick: Domestic car makers could move supply chains to the US

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US Secretary of Commerce Howard Lutnick unveiled White House’s plans for US auto markers. 

Key Quotes

  • Adjustments to autos tariffs are aimed at allowing domestic automakers time to grow US plants, employment.
  • The executive orders grew out of detailed conversation with domestic car makers.
  • Manufacturers of US-built autos will get a 15% offset for the value of those vehicles against parts imports.
  • This will help domestic car makers to move supply chains to US.
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