Donald Trump Hints At U-Turn On Auto Tariffs: "Some Car Companies Need Time To..."

Asian stocks edged slightly higher on Tuesday as some stability returned to markets, as US President Donald Trump floated a potential pause in auto-related, giving a boost to the sector after last week's rollercoaster ride. The American leader on Monday said he was considering a modification to the 25 per cent tariffs imposed on foreign auto and auto parts imports from Mexico, Canada and other places. "I'm looking at something to help some of the car companies with it," Trump told reporters in the Oval Office. Tariffs on the auto sector could raise the costs of a car by thousands of dollars, and Trump said car companies "need a little bit of time because they're going to make 'em here."

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