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Trump Administration Eases Auto Parts Tariffs as President Claims Global Dominance
Trump Administration Eases Auto Parts Tariffs as President Claims Global Dominance
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The Trump administration rolled back tariffs on select auto components Monday, citing concerns over ’double taxation.’ The decision follows China’s unilateral reduction of duties on U.S. semiconductors and pharmaceuticals last week. Automotive executives had warned the 25% levy would trigger price hikes and demand destruction across dealerships.
Commerce Secretary Howard Lutnick framed the policy shift as a strategic win for domestic manufacturing. Meanwhile, President Trump asserted geopolitical dominance in an interview with The Atlantic, declaring he now ’runs the world.’ The remarks coincide with heightened market sensitivity to U.S.-China trade developments.
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