Stock market on trade watch, Trump to ease automaker tariffs: Live Updates

President Donald Trump will announce Tuesday, during a trip to Michigan, a move to reduce the impact of the tariffs on auto makers, FOX Business’ Edward Lawrence has learned.

The move is to reward the industry for its good faith efforts to move manufacturing back to the U.S. and the President wants to give them a “runway” with their business.

“President Trump is building an important partnership with both the domestic automakers and our great American workers. 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.” – Commerce Secretary Howard Lutnick said.