Trump Considers Reducing Chinese Car Part Tariffs, FT Says

The Trump administration is considering reducing tariffs on auto parts ahead of a May 3 deadline that has drawn the ire of global carmakers, according to the Financial Times.

The proposal would exempt car parts from tariffs President Donald Trump has levied on imports from China to stop fentanyl production, people familiar with the plan told the newspaper. The plan would also let parts makers avoid tariffs for steel and aluminum, referred to as “destacking,” the FT said.