President Trump has signed executive orders aimed at relaxing tariffs on automobiles and auto parts, which previously threatened to boost prices and hinder U.S. competitiveness. The changes are intended to support automakers in transitioning towards more domestic production. Treasury Secretary Scott Bessent emphasized the focus on job creation through domestic manufacturing. The new measures include a rebate structure to encourage the assembly of vehicles in the U.S. with foreign parts, making it easier for manufacturers to adapt their supply chains while building new factories.
President Trump has had meetings with both domestic and foreign auto producers, and he's committed to bringing back auto production to the U.S."
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