00:00It's Benzinga bringing Wall Street to Main Street.
00:02The White House plans to expend tariff relief for U.S. automakers,
00:05granting a five-year continuation of a program that reduces duties on imported car parts,
00:10according to Bloomberg.
00:11The measure initially set to expire after two years
00:13piles months of lobbying by Ford and General Motors
00:16to offset rising costs for Trump's 25% tariffs on vehicle parts and raw materials.
00:21Policy expected to be announced on Friday will also formalize tariffs on imported trucks.
00:25GM shares rose 3.8% on the news, while Ford and Stellantis gained.
00:30Automakers had warned that Japan's lower tariffs and labor costs
00:32under its trade deal that the U.S. gave rivals a major pricing edge.
00:37For all things money, visit Benzinga.com.
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