President Donald Trump suggested he may pause permanent auto tariffs to give carmakers time to shift production back to the U.S., according to the Associated Press. Trump said automakers need time to shift production to the U.S., boosting global auto stocks on Tuesday. Wedbush analyst Dan Ives said the auto industry can't quickly overhaul decades-old supply chains and should prioritize U.S.-made finished vehicles over parts. Auto tariffs are expected to cost automakers billions, disrupt vehicle supply, and raise consumer prices. They have already led to paused operations and temporary U.S. layoffs.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02President Donald Trump suggested he may pause permanent auto tariffs to give car makers time
00:07to ship production back to the United States, according to the Associated Press. Trump said
00:11automakers need time to ship production to the U.S., boosting global auto stocks on Tuesday.
00:17Wedbush analyst Dan Ives said the auto industry can't quickly overhaul decades-old supply chains
00:22and should prioritize U.S.-made finished vehicles over parts. Current auto tariffs are expecting
00:27to cost automakers billions, disrupt vehicle supply, and raise consumer prices. They've
00:33already led to paused operations and temporary U.S. layoffs. For all things money, visit Benzinga.com
00:38slash GSTV.