US White House Press Secretary Leavitt: Trump will give auto industry an extension on tariffs

Joshua Gibson FXStreet

According to US White House Press Secretary Karoline Leavitt, US President Donald Trump is granting the US automotive industry, which is incredibly dependent on foreign trade, a one-month exemption from this week's stiff 25% tariffs imposed on Canada and Mexico.

The White House administration has also tilted toward other possible exemptions or delays as the Trump team continues to prove markets right and pivots once again on the majority of its own threats to impose stiff import taxes on its own citizens.

Key highlights

Trump spoke with the heads of the big three automakers.

Reciprocal tariffs still going into effect April 2nd.

Trump is open to hearing about additional tariff exemptions.

The Trump administration is doing everything they can on inflation.

National Security Adviser Waltz has been talking to his Ukrainian counterparts.

Reconsidering funding for Ukraine.

Talks on the mineral deal are happening.

US/Ukraine talks are happening as we speak.

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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