United States Commerce Secretary Howard Lutnick emphasized Friday the importance of the auto sector to US manufacturing, arguing that imposing tariffs on imported vehicles from all regions could be a "fair" approach to protect domestic production.
In an interview on Fox Business, Lutnick highlighted the critical role automobiles play in the nation's industrial base, stressing the need for large-scale automotive production to sustain economic growth and competitiveness. His comments come amid ongoing discussions about trade policies and their impact on the US manufacturing landscape.
Earlier this year, President Donald Trump confirmed a 25% tariff on automobiles and other imports from the European Union, citing unfair trade practices. The tariffs are expected to take effect around April 2. Automakers have responded variably, with Ferrari stating the company is "ready" for the tariffs, while BMW plans to absorb costs for Mexico-built models to mitigate the impact.
