• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

The 33-year-old executive Satya Nadella is trusting to fix Microsoft’s Copilot AI assistant

1

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

The 33-year-old executive Satya Nadella is trusting to fix Microsoft’s Copilot AI assistant
FinanceTariffs

Trump will sign an executive order softening the tariff impact for automakers

By
Chris Morris
Chris Morris
Former Contributing Writer
Down Arrow Button Icon
By
Chris Morris
Chris Morris
Former Contributing Writer
Down Arrow Button Icon
April 29, 2025, 11:57 AM ET
Trump will provide some tariff shelter for automakers.
Trump will provide some tariff shelter for automakers.Anna Barclay/Getty Images
Add Fortune on Google for similar content.
  • Trump will sign an executive order regarding auto tariffs Tuesday afternoon. The agreement is expected to prevent tariffs from “stacking,” which would benefit manufacturers. Consumers will still see price increases, though.

The auto industry can breathe a little easier when it comes to tariffs.

Recommended Video

President Trump plans to sign an executive order that will give car and truck manufacturers some relief from import tariffs, amid fears those levies would impact U.S. factories.

While the 25% tariffs will remain in place on imported vehicles and auto parts, they will be modified to ensure they don’t “stack” on top of other tariffs, such as those on aluminum or steel. Automakers will not have to pay tariffs on those widely used products.

At the same time, automakers will be reimbursed for some of the cost of tariffs on some imported auto parts. That compensation will work out to 3.75% of the value of a U.S.-made car for the first year, 2.5% of the value for the second year, then it will be phased out, according to a report in the Wall Street Journal.

White House press secretary Karoline Leavitt said at a Tuesday briefing that Trump will sign an order regarding auto tariffs later this afternoon before he travels to Michigan for a rally observing his first 100 days in office. She did not go into detail about the order, however.

The 25% tariff on imported cars took effect April 3. The tariff on imported parts is scheduled to go into effect on Saturday, May 3.

The auto industry has been lobbying the Trump administration for relief on tariffs for weeks. In a letter to the White House, a collection of lobbyists, including the Alliance for Automotive Innovation, wrote that Trump “has indicated an openness to reconsidering the administration’s 25 percent tariffs on imported automotive parts—similar to the tariff relief recently approved for consumer electronics and semiconductors. That would be a positive development and welcome relief.”

Even with the block on tariff stacking, consumers can expect to pay thousands of dollars more for new and used cars in the coming months. Repair costs and insurance premiums will also likely increase.

About the Author
By Chris MorrisFormer Contributing Writer

Chris Morris is a former contributing writer at Fortune, covering everything from general business news to the video game and theme park industries.

See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

Burnham’s rise revives talk of war bonds to fund the UK military
PoliticsBonds
Burnham’s rise revives talk of war bonds to fund the UK military
By Philip Aldrick, Lucy White and BloombergJune 28, 2026
1 hour ago
Ukraine’s drone attacks hit more Russian refineries and create fuel shortages in Siberia—thousands of miles from the war
EnergyUkraine invasion
Ukraine’s drone attacks hit more Russian refineries and create fuel shortages in Siberia—thousands of miles from the war
By The Associated PressJune 28, 2026
2 hours ago
Cristiano Ronaldo
SuccessBillionaires
Cristiano Ronaldo is soccer’s first-ever billionaire: He went from begging for burgers outside McDonald’s to landing a $400 million contract
By Preston ForeJune 28, 2026
5 hours ago
family
CommentaryColleges and Universities
More than 3 million college students are raising kids. Most won’t graduate
By Enyi OkebugwuJune 28, 2026
7 hours ago
Even Apple supply chain maestro Tim Cook couldn’t dodge the memory chip ‘RAM-ageddon’ crisis. Here’s why PC prices are soaring this summer
Big TechChips
Even Apple supply chain maestro Tim Cook couldn’t dodge the memory chip ‘RAM-ageddon’ crisis. Here’s why PC prices are soaring this summer
By Alexei OreskovicJune 28, 2026
8 hours ago
Young real estate agent with clients at house
SuccessJobs
LinkedIn says real estate is one of the hottest industries for entry-level workers—One Gen Z sales agent made $75K his first year with no experience
By Emma BurleighJune 28, 2026
9 hours ago

Most Popular

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
Success
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
By Preston ForeJune 27, 2026
1 day ago
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
3 days ago
The 33-year-old executive Satya Nadella is trusting to fix Microsoft’s Copilot AI assistant
AI
The 33-year-old executive Satya Nadella is trusting to fix Microsoft’s Copilot AI assistant
By Sebastian HerreraJune 27, 2026
1 day ago
The end of Putin’s regime will spring from war spending chaos, former central bank advisor says, amid military mutiny threat and fuel-shortage brawls
Europe
The end of Putin’s regime will spring from war spending chaos, former central bank advisor says, amid military mutiny threat and fuel-shortage brawls
By Jason MaJune 27, 2026
22 hours ago
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
Success
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
By Orianna Rosa RoyleJune 24, 2026
4 days ago
Ex-Google engineer says Larry Page, Sergey Brin and Sundar Pichai share the same trait—it's the lesson he swears by as a $7.2 billion AI CEO
Success
Ex-Google engineer says Larry Page, Sergey Brin and Sundar Pichai share the same trait—it's the lesson he swears by as a $7.2 billion AI CEO
By Orianna Rosa RoyleJune 28, 2026
5 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.