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What will the auto tariff rates be according to President Trump?
According to President Trump, the auto tariff rates will initially be in the neighborhood of 25%, scheduled to be officially announced on April 2nd. However, these rates won't remain static - Trump indicates they will increase 'very substantially higher over a course of a year.' This progressive tariff structure appears designed to pressure foreign automakers into establishing manufacturing facilities within the United States. The implied strategy suggests companies that build their vehicles in America would likely be exempt from these escalating tariffs.
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Trump Discusses Auto Tariff Rate Prediction
USA TODAY·8 months ago
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