Tariff Rebate, Trump
Digest more
GOP Sen. Josh Hawley pledged to author legislation after President Donald Trump expressed interest in sending out rebate checks.
Current 25% tariffs stay in place while new rebates cushion incoming auto parts fees. Automakers will receive a 3.75% tariff rebate for one year, then 2.5% next year.
The 25% tariff on vehicles has already taken effect. However, on Monday, U.S. Commerce Secretary Howard Lutnick said Trump had brokered a deal to soften auto tariffs.
The tariff-related market turmoil seen in early-April 2025 has resulted in large losses, with the current estimates running between $5 and $10 trillion in total market losses.
Related: Trump places 25% tariff on imported autos, expect to raise $100 billion in revenue But the auto industry’s subtle price hikes are already having an effect. The average sale price for a ...
President Donald Trump announced a new executive order granting partial tariff rebates to automakers assembling cars in the U.S., easing a previously announced 25% tariff on imported cars and parts.
Fed meeting recap: Powell rules out a preemptive rate cut to blunt any tariff impact By Darla Mercado, CFP®, CNBC • Published May 7, 2025 • Updated on May 7, 2025 at 3:35 pm BOOKMARKER
Feedback