Trump signs executive order to ease auto tariff burdens and promote domestic production incentives.

According to Bloomberg, U.S. President Donald Trump signed an executive order to alleviate the issue of overlapping automobile tariffs, allowing imported cars to be exempt from separate tariffs on aluminum and steel, while providing a credit of up to 3.75% of the vehicle's value for companies that produce and sell complete vehicles in the U.S., which will be reduced to 2.5% next year and eliminated the following year, in order to encourage domestic manufacturing. Although some burdens have been alleviated, the automotive industry still faces cost pressures from the 25% tariff on imported cars.