Summary: US automakers are lobbying the Trump administration to exclude certain vehicle parts from tariffs, arguing that levies on low-cost parts sourced globally could drive up costs by billions of dollars, leading to layoffs and profit warnings. They are seeking exemptions on low-value parts like electrical wiring, which are labor-intensive to produce and often made in low-wage countries. The automakers have conceded to paying tariffs on completed cars and large components but argue that combined levies on parts would send car prices soaring and depress demand.

Link: https://www.straitstimes.com/business/companies-markets/us-automakers-lobby-to-exclude-low-cost-parts-from-tariffs