Reported about 6 hours ago
On May 3, President Trump's tariffs on foreign-made auto parts went into effect, impacting components like powertrains, seats, and airbags. While the tariffs start at 25%, automakers received exemptions to prevent overlapping tariffs, termed 'destacking,' allowing them to pay the highest single tariff. Certain USMCA-compliant parts from Mexico or Canada are exempt, and automakers can receive tariff reimbursements to help transition to US-made parts. Despite some relief, major automakers, including GM and Stellantis, express concerns over the financial burdens imposed by the tariffs.
Source: YAHOO