Trump Administration Modifies Tariffs to Incentivize Domestic Automobile Production

U.S. President Donald Trump has signed a proclamation that modifies recent tariff action on automobiles and automobile parts in order to incentivize domestic automobile production, as explained in the following fact sheet. The president also signed a related executive order that prevents the cumulative effect of overlapping tariffs on imported articles, ensuring that multiple tariffs do not stack on top of one another when applied to the same goods. This includes that goods subject to the t…