Ford pickup trucks on the line at the automaker's Dearborn, Michigan, assembly plant. Photo: Bill Pugliano/Getty Images
After months of pleading, U.S. automakers got a little relief from Trump's tariff regime, but they're not exactly jumping for joy.
Why it matters: The tariffs that remain are still going to hurt, requiring some reshuffling of supply chains and even relocating of assembly plants. (More robot jobs, potentially?)
These actions are not free and take time to achieve.
Driving the news: Trump said Tuesday the government would reimburse automakers a portion of the tariffs paid on imported parts for cars finished in the U.S.
Plus, auto tariffs will not be stacked on top of other levies, such as those on steel or aluminum.
CEOs welcomed the relief, but are still figuring out what it means for their companies.
Parting shot: In a statement, Ford CEO Jim Farley dissed competitors for not producing more cars in the U.S.
"If every company that sells vehicles in the U.S. matched Ford's American manufacturing ratio, 4 million more vehicles would be assembled in America each year. The U.S. would see a windfall of new assembly and supplier factories and hundreds of thousands of new jobs," Farley gloated.
