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COVID-19 BUSINESS UPDATES

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Trump auto tariffs on hold; industry breathes a temporary sigh of relief

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Carmakers and consumers can breathe a collective sigh of relief that it’s business as usual — for now.

The Trump administration is holding off on imposing new tariffs on car imports as government leaders consider revisions to a report on the national security implications, according to a Bloomberg report.

President Donald Trump has threatened a 25-percent tax on imported cars and car parts that automakers and industry analysts have said would be costly to automakers and consumers.

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