U.S. Customs and Border Protection has clarified that automobile parts compliant with the Canada-U.S.-Mexico Agreement (CUSMA) will not incur the 25% tariffs announced by President Trump. These tariffs, initially set to begin on Saturday, will not apply to compliant auto parts, although automobile knock-down kits and parts compilations are excluded. Furthermore, an executive order signed by Trump aims to ease distress in the automotive sector, providing rebates for domestic vehicle completion and freezing additional tariffs on steel and aluminum to avoid compounding the auto duties.
U.S. Customs and Border Protection's new guidance has confirmed that auto parts compliant with the CUSMA agreement will be exempt from the upcoming tariffs proposed by President Trump.
President Trump's latest executive order aims to alleviate some pressure on the automotive industry by providing rebates for vehicles assembled in the U.S. and suspending further tariffs.
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