Commerce Secretary Howard Lutnick dismissed Detroit automakers’ concerns about President Donald Trump’s new trade deal with Japan. Lutnick said he spoke to U.S. auto manufacturing CEOs and that “they are cool with it.” The agreement Trump announced would see Japan accept a tariff of 15% on cars it exports to the U.S., in addition to pledging $550 billion in U.S. investments.
Commerce Secretary Howard Lutnick said Thursday that American auto CEOs told him they are “cool with” President Donald Trump‘s new trade deal, which could put lower tariffs on cars imported from Japan than on cars made by U.S. companies in Canada and Mexico.
Lutnick brushed off complaints from a group representing General Motors, Ford and Stellantis that Trump’s plan could give Japanese automakers an advantage over the “Big Three” Detroit car