Trump Trade: Auto makers exempt from some U.S. tariffs

Roche seeking U.S. tariff relief in direct talks with White House

Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump with this daily recap compiled by The Fly:

TARIFF EXEMPTION: 

In another trade war de-escalation, President Donald Trump plans to spare carmakers from some of his most onerous tariffs, Financial Times reported. The move would exempt car parts from the “fentanyl” tariffs that Trump is imposing on imports from China as well from those levied on steel and aluminum in a “destacking” of the duties, according to Aime Williams and Kana Inagaki, citing two people with knowledge of the matter. The exemptions would leave in place a 25% tariff Trump imposed on all imports of foreign-made cars and a separate 25% levy on parts would also remain and is due to take effect from May 3, the report added. Publicly traded auto makers include Ford (F), General Motors (GM), Honda (HMC), Mercedes-Benz (MBGYY), Nissan (NSANY), Stellantis (STLA), Tesla (TSLA), Toyota (TM) and Volkswagen (VWAGY).

TARIFF RELIEF: 

Roche (RHHBY) is petitioning the Trump administration in direct talks for import tariff exemptions, arguing the products it ships into the U.S. are offset by its exports of U.S.-made drugs and diagnostics, Reuters reports. “As long as we produce the same amount in the U.S. as we import… we would not be impacted by tariffs. That’s kind of the discussion we are trying to have with the U.S. government,” Roche CEO Thomas Schinecker said in a media call after the release of Q1 earnings. He added that Roche was in touch with various levels of the administration, arguing that a U.S. drive for all goods used in the country to be produced there would inflate manufacturing costs.

PRODUCTION: 

With President Trump betting the threat of tariffs on low-cost countries will pressure American companies to bring manufacturing and jobs back to the U.S., many companies are turning to find ways to replace human workers with machines to save on labor costs, Jon Emont of The Wall Street Journal reports. A yearslong effort by Nike (NKE) to shift manufacturing to North America demonstrates the difficulties U.S. brands face to wean themselves off the flexible, low-cost contract manufacturers. The company’s attempts to create robots to make its shoes have had issues, with the robots struggling to handle the soft, squishy, stretchy parts integral to shoemaking. As a result, factory production has yet to become as automated as the company originally envisioned.

INVESTMENT ACCELERATOR: 

Michael Grimes, who previously spent three decades at Morgan Stanley (MS), is leading President Trump’s U.S. Investment Accelerator, an office made to encourage domestic and foreign companies to invest in the country, Corrie Driebusch of The Wall Street Journal reports. The goal of the office is part of the Trump administration’s broader “America First” agenda. The role is new and its success will depend on whether companies want the government’s help with garnering investments.

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Originally Posted April 24, 2025 – Trump Trade: Auto makers exempt from some U.S. tariffs