US Lutnick: Domestic car makers could move supply chains to the US

United States (US) Secretary of Commerce Howard Lutnick unveiled the White House’s plans for US auto makers. 

Key Quotes

• Adjustments to autos tariffs are aimed at allowing domestic automakers time to grow US plants, employment.
• The executive orders grew out of detailed conversation with domestic car makers.
• Manufacturers of US-built autos will get a 15% offset for the value of those vehicles against parts imports.
• This will help domestic car makers to move supply chains to US.