White House readies to ease auto-parts tariffs: Report

The White House is preparing to announce measures to lighten tariff burdens on the auto sector as companies intensify efforts to cut the cost of importing spare parts, Bloomberg reported.

People familiar with the matter said the Commerce Department could announce today, Oct. 17, a five-year extension of a special arrangement that lets automakers reduce duties on imported parts. The arrangement had been due to expire in two years.

Fully imported vehicles will remain subject to the 25% tariff imposed by President Donald Trump this year, with exemptions continuing for vehicles made in Canada and Mexico under the North American Free Trade Agreement.