Indian auto companies Has got great relief. In fact, US President Donald Trump has signed an executive order to reduce some in the 25 percent fee levied on auto company and vehicle Palpars. The US President’s Office White House gave this information. This is an important reversal, as there was a risk of damage to Indian auto companies on imports on imports. White House press secretary Caroline Lewit told reporters on Tuesday that Trump would sign the order on Tuesday, but he refused to give details about the order.
In addition, auto and parts under these fees will no longer be subject to other fees of Trump, including 25% fee on Canadian and Mexican items, 25% fee on steel and aluminum, as well as 10% fees applied to most other countries. The official said that in case of fees on metals, auto manufacturers would pay either vehicle fee or steel and aluminum fees, whichever will be higher.
Companies appreciated the decision
He said that we want to give way to vehicle manufacturers, and quickly want to create as much employment as possible. John Elkain, chairman of the American company Stellentis, praised Trump’s decision in a statement. General Motors CEO Mary Bara said that the company is grateful to the support of the industry by Trump. He said that the company is keen to interact with the President and work with the administration. Last week, a coalition of American auto industry groups urged Trump not to impose 25% tariffs on imported auto parts and said that sales of sales vehicles would be low and prices would increase.
Keep an eye on the shares of auto companies
Market expert says that Trump’s decision has brought great relief to Indian auto companies and auto parts. Significantly, there was a big decline in shares of Indian auto companies after Trump’s announcement to increase the tariff. Now this decision can once again return.
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