Trump says he's considering 'help' for auto companies hit by tariffs

The Associated Press

· Posted: Apr 14, 2025 4:35 PM EDT | Last Updated: 33 minutes ago

President Donald Trump connected Monday suggested that helium mightiness temporarily exempt some auto manufacturers from tariffs helium antecedently imposed connected the sector, to springiness carmakers clip to set their proviso chains.

"I'm looking astatine thing to assistance immoderate of the car companies with it," Trump told reporters gathered successful the Oval Office.

The Republican president said automakers needed clip to relocate accumulation from Canada, Mexico and different places, "and they request a small spot of clip due to the fact that they're going to marque them here, but they request a small spot of time. So I'm talking astir things similar that."

The connection hinted astatine yet different circular of reversals connected tariffs arsenic Trump's onslaught of import taxes has panicked fiscal markets and raised heavy concerns from Wall Street economists astir a imaginable recession. 

WATCH: Trump says Canadian car parts among database of imaginable products spared from U.S. tariffs

When Trump announced the 25 per cent car tariffs connected March 27, helium described them arsenic "permanent." His hard lines connected commercialized person go progressively blurred arsenic helium has sought to bounds the imaginable economical and governmental blowback from his policies.

Last week, aft a enslaved marketplace sell-off pushed up involvement rates connected U.S. debt, Trump announced that for 90 days his broader tariffs against dozens of countries would alternatively beryllium acceptable astatine a baseline 10 per cent to springiness clip for negotiations. 

At the aforesaid time, Trump accrued the import taxes connected China to 145 per cent, lone to temporarily exempt electronics from immoderate of those tariffs by having those goods charged astatine a 20 per cent rate.

"I don't alteration my mind, but I'm flexible," Trump said Monday.

Trump's flexibility has besides fuelled a consciousness of uncertainty and disorder astir his intentions and extremity goals. The S&P 500 banal scale was up somewhat successful Monday day trading, but it's inactive down astir nine per cent this year. Interest rates connected 10-year U.S. Treasury notes were besides elevated astatine astir 4.4 per cent.

Carl Tannenbaum, main economist for the Northern Trust planetary fiscal firm, said the whiplash had been truthful large that helium mightiness person to "get fitted for a cervix brace."

Tannenbaum warned successful an analysis: "Damage to consumer, business, and marketplace assurance whitethorn already beryllium irreversible."

The U.S. president besides said that helium spoke with Apple CEO Tim Cook and "helped" him recently. Many Apple products, including its fashionable iPhone, are assembled successful China.

Apple didn't respond to a Monday petition for remark astir the latest swings successful the Trump administration's tariff pendulum.

Even if the exemptions granted connected electronics past week crook retired to beryllium short-lived, the impermanent reprieve gives Apple immoderate breathing country to fig retired ways to minimize the commercialized war's interaction connected its iPhone income successful the U.S.

That imaginable helped assistance Apple's banal terms by astir 3 per cent during Monday's day trading. Still, the banal gave up immoderate of its earlier seven per cent increase arsenic investors processed the anticipation that the iPhone could inactive beryllium jolted by much tariffs connected Chinese-made products successful the weeks ahead.