By George Glover
Shares in Ford and General Motors were rising on Tuesday, with President Donald Trump set to scale back his tariffs on the auto makers.
Trump is expected to ease the levies ahead of a trip to Michigan to mark his 100th day in office, according to a report from The Wall Street Journal that cited people familiar with the matter.
Here's the latest tariffs news.
Trump Set to Water Down Auto Levies
Trump is set to restructure tariffs so that they no longer stack on top of each other for the likes of Ford and GM, per The Journal.
Car makers paying auto levies would no longer be charged for other duties, including those on steel and aluminum. The Journal reported that the move will be retroactive, meaning that the auto makers could recoup fees from tariffs they have already paid.
The move would take some of the worst outcomes off the table. Tariffs as they are currently proposed could add between $20 billion to $40 billion to GM's costs. Now, it may face total cost increases of $10 billion to $15 billion.
Ford stock added 1.1% and GM climbed 0.9% in Tuesday's premarket. U.S. shares in Jeep maker Stellantis rose 2.9%.
Adidas, HSBC, Porsche Warn of Tariff Impact
Three of Europe's biggest companies flagged Trump's trade policies as a potential drag on their earnings Tuesday.
Shoe maker Adidas said tariffs had stopped it from upgrading its full-year revenue and profit guidance and warned that the levies would eventually drive up the price of its sneakers, while bank HSBC warned that the economic uncertainty could weigh on demand for lending.
Sports-car maker Porsche cut its outlook, citing a slump in deliveries in China as well as tariffs in the U.S.
Write to George Glover at george.glover@dowjones.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
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April 29, 2025 05:58 ET (09:58 GMT)
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