FT learned about Trump's plans to exempt automakers from some duties

US President Donald Trump plans to exempt automakers from some duties in order to avoid a strong increase in prices for American cars. This was reported on April 23 by The Financial Times newspaper, citing sources.

According to them, Trump wants to take this measure to prevent severe price increases for American cars, supply disruptions and job cuts. It is noted that he can exempt auto parts supplied from China from duties.

"This concession also indicates Trump's willingness to make exceptions for "privileged" sectors of the economy after his plans for customs duties caused a sharp drop in global markets and warnings of a possible recession in the United States," the material says.

FT sources believe that the standard duties of 25% imposed on imports of all foreign cars will remain, as will the 25% tariffs on spare parts, which will be introduced on May 3. The newspaper also clarified that the White House declined to provide a comment.

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On April 2, Trump signed a decree imposing 25% duties on imports of passenger cars, light trucks and auto parts. Duties will be effective from April 3 for finished cars, and for auto parts — no later than May 3. Trump justified this measure by the need to protect "national security."