Intel stock spikes after report of possible US government stake
Investing.com -- Major US automakers, including Ford Motor Co . (NYSE:F), General Motors Co (NYSE:GM)., and Stellantis NV (NYSE:STLA), the parent company of Chrysler, are lobbying the Trump administration to exclude certain vehicle parts from upcoming tariffs, Bloomberg News reported Monday afternoon. This move is seen as a last-ditch effort to influence the levies before they come into effect this week.
These automakers are seeking to avoid paying duties on thousands of parts they source globally, often from low-cost countries such as Mexico. They have held meetings with the White House, the Commerce Department, and the US Trade Representative to discuss the exclusion, according to sources familiar with the matter who wished to remain anonymous due to the sensitivity of the internal discussions.
President Trump’s 25% auto tariffs are scheduled to take effect on April 2, when reciprocal tariffs will also be announced. The auto tariffs are projected to add between $10,000 to $20,000 to vehicle prices.
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