(Zero Hedge)—Global stocks were steady overnight, with U.S. equity futures marginally higher, as sentiment improved following reports that President Trump plans to ease tariffs on foreign auto parts used in U.S.-made vehicles. The news comes as Trump marks his first 100 days in office, ahead of a rally in Michigan scheduled for this evening.
The Wall Street Journal, citing multiple sources familiar with the plans, reported that the proposed tariff rollback would offer major relief to automakers producing vehicles within the U.S. borders. These companies have been battered by the trade war due to their deeply entrenched supply chains spanning Asia and Europe.
The decision will mean that automakers paying Trump’s automotive tariffs won’t also be charged for other duties, such as those on steel and aluminum, according to people familiar with the policy.
The move would be retroactive, the people said, meaning that automakers could be reimbursed for such tariffs already paid. The 25% tariff on finished foreign-made cars went into effect early this month.
The administration will also modify its tariffs on foreign auto parts—slated to be 25% and effective May 3—allowing automakers to be reimbursed for those tariffs up to an amount equal to 3.75% of the value of a U.S.-made car for one year. The reimbursement would fall to 2.5% of the car’s value in a second year, and then be phased out altogether.
Commerce Secretary Howard Lutnick told WSJ in a statement about Trump’s move to ease the pain for automakers:
President Trump is building an important partnership with both the domestic automakers and our great American workers.
This deal will be a major victory for the president’s trade policy by rewarding companies who are already manufacturing domestically, while providing a runway to manufacturers who have expressed their commitment in investing in America and expanding domestic manufacturing.
In a separate statement to Bloomberg, Lutnick said:
This deal is a major victory for the president’s trade policy by rewarding companies who manufacture domestically while providing runway to manufacturers who have expressed their commitment to invest in America and expand their domestic manufacturing.
Trump’s trade war is an urgent move to shift critical supply chains out of China, either by relocating them to a friendlier shore or reshoring them.
Ford CEO Jim Farley commented on the WSJ report:
Ford welcomes and appreciates these decisions by President Trump, which will help mitigate the impact of tariffs on automakers, suppliers and consumers.
We will continue to work closely with the administration in support of the president’s vision for a healthy and growing auto industry in America. Ford sees policies that encourage exports and ensure affordable supply chains to promote more domestic growth as essential.
This news comes ahead of Trump’s trip to Michigan to celebrate the first 100 days of his second term in office. The president will speak at Macomb Community College in Warren, about 20 miles north of Detroit, around 6:00 p.m. local time.
Ahead of Trump’s first 100 days, crazed Michigan Democratic Rep. Shri Thanedar filed articles of impeachment against the president, stating:
I have introduced articles of impeachment against President Trump. When Trump ignores the Constitution, Congress, and the courts, he is not ‘fighting for America.’ He is tearing it down and endangering our democracy.
Trump’s pivot on auto tariffs represents the latest development in his ever-changing trade strategy to friend-shore or re-shore critical supply chains.
Why One Survival Food Company Shines Above the Rest
Let’s be real. “Prepper Food” or “Survival Food” is generally awful. The vast majority of companies that push their cans, bags, or buckets desperately hope that their customers never try them and stick them in the closet or pantry instead. Why? Because if the first time they try them is after the crap hits the fan, they’ll be too shaken to call and complain about the quality.
It’s true. Most long-term storage food is made with the cheapest possible ingredients with limited taste and even less nutritional value. This is why they tout calories so much. Sure, they provide calories but does anyone really want to go into the apocalypse with food their family can’t stand?
This is what prompted the Llewellyns to launch Heaven’s Harvest. They bought survival food from multiple companies and determined they couldn’t imagine being stuck in an extended emergency with such low-quality food. They quickly discovered that freeze drying food for long-term storage doesn’t have to mean sacrificing flavor, consistency, or nutrition.
Their ingredients are all-American. In fact, they’re locally sourced and all-natural! This allows their products to be the highest quality on the market, so good that their customers often break open a bag in a pinch to eat because they want to, not just because they have to due to an emergency.
At Heaven’s Harvest, their only focus is amazing food. They don’t sell bugout bags, solar chargers, or multitools. They have one mission – feeding Americans in times of crisis.
What they DO offer is the ability for people to thrive in times of greatest need. On top of long-term storage food, they offer seeds to help Americans for the truly long-term. They want them to grow their own food if possible which is why they offer only Heirloom, Non-GMO, Non-Hybrid, Open-Pollinated seeds so their customers can build permanent food security on their own property.
