President Donald Trump moved Tuesday to soften tariffs on automakers, sparking cautious optimism in an industry that has been on tenterhooks as it awaits details on the fast-evolving policy.
Trump signed an executive order to limit the impact of overlapping tariffs on automakers. He also released a proclamation that gives the industry a two-year grace period to move supply chains back to the United States and reduce "American reliance on imports of foreign automobiles and their parts."
