Overview

• President Trump has signed an executive order preventing automakers from facing cumulative tariffs on vehicles, steel, and aluminum.
• The order includes retroactive refunds for tariffs already paid on imported cars and components, offering financial relief to automakers.
• A phased rebate system will provide reimbursements of 3.75% in the first year and 2.75% in the second year for U.S.-produced vehicles.
• The measures aim to incentivize automakers to repatriate supply chains and expand domestic manufacturing capabilities.
• The announcement, made during a Michigan rally marking Trump's first 100 days, highlights his administration's focus on bolstering the U.S. auto industry.