The Future Looks Bright for the Car Industry as Trump Considers Rolling Back Protectionist Policies
The car industry can breathe a sigh of relief as evidence suggests that US president Donald Trump may be open to reversing his protectionist policies. This news has lifted the grey cloud that has been hanging over the industry for some time.
Recently, the UK announced a new deal with the US that includes reduced import tariffs on cars, bringing much-needed relief to companies like Jaguar Land Rover (JLR) who have been struggling. This announcement comes as a welcome surprise and a positive development for the industry.
In addition to the UK deal, BMW has also expressed optimism about the future, predicting that the current 27.5% tariff on cars could potentially be reduced after 1 July. This news is a ray of hope for car makers who have been impacted by the high tariffs in recent months.
