News / Trump offers carmakers one-month exemption from tariffs

President Trump has offered a reprieve to North American automakers after imposing what have been called “punishing” 25% tariffs on goods coming from US neighbours Canada and Mexico.

The 25% penalty came into effect on Tuesday, sending stock markets into a spiral, more than wiping out gains that followed Mr Trump’s re-election in November, with US carmakers one of the biggest victims.

In a u-turn yesterday, the White House confirmed it would exempt the beleaguered car ...