President Donald Trump stepped back—slightly. On Tuesday, he signed a new order softening his auto tariffs just days before fresh 25% duties were set to hit imported car parts.
The move offers temporary relief. U.S. carmakers will be able to claim credits worth up to 15% of the value of vehicles assembled domestically, using them to offset import costs. It’s a narrow path to stability in an industry still caught in a whirlwind.
The White House framed it as a measure of support. “We didn’t want to penalise them,” Trump said before heading to Michigan, home of the U.S. auto legacy. But behind the words lies a deeper tension—between protectionist ambition and economic disruption.
Auto firms had been lobbying hard. The tariffs threatened a production model that spans borders—integrating U.S., Mexican, and Canadian supply chains. General Motors, facing the uncertainty head-on, withdrew its annual forecast and delayed its investor call.
Others followed. UPS announced 20,000 job cuts. Electrolux and Kraft Heinz warned that chaotic trade policies are making long-term planning almost impossible. In total, more than 40 companies have adjusted their earnings guidance in just two weeks.
Markets, for now, responded with optimism. A vague signal from Commerce Secretary Howard Lutnick—claiming a deal with a foreign partner, pending local approval—helped lift stocks. The S&P 500 closed higher for a sixth straight session.
But the fundamentals are softening. U.S. GDP is expected to have grown by just 0.3% in the first quarter, dragged down by import surges and consumer stockpiling. Trump’s 90-day pause on broader tariffs has done little to calm broader fears.
His administration hopes to finalise 90 trade deals in the same 90 days. But for most businesses, the clock is ticking louder than the promises.
“Every single prediction has been proved wrong,” said Electrolux CEO Yannick Fierling. At this point, markets aren’t asking for precision—they’re asking for clarity.
Europe heads into the Munich Security Conference, on Friday (13 February), amid deepening unease over U.S. policy, as President Donald Trump’s hard-...
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 13th of February, covering the latest developments you need to...
Portugal's parliament approved a bill on Thursday (12 February), on its first reading, requiring explicit parental consent for children aged 13 to 16-...
A bipartisan group of 37 U.S. lawmakers have written to senior Taiwanese politicians expressing concern about parliament stalling proposed defence spe...
The Bangladesh National Party (BNP) won a decisive two-thirds majority in Friday's (13 February) general elections, a result expected to bring stabili...
Europe heads into the Munich Security Conference, on Friday (13 February), amid deepening unease over U.S. policy, as President Donald Trump’s hard-line stance on defence, trade and territory fuels doubts about Washington’s long-term commitment to transatlantic security.
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 13th of February, covering the latest developments you need to know.
Egyptian archaeologists have uncovered a major prehistoric site in South Sinai dating back around 10,000 years, revealing layers of human activity carved into rock across millennia.
Türkiye and Serbia agreed to expand cooperation across defence, foreign policy and economic relations following talks between President Recep Tayyip Erdoğan and President Aleksandar Vučić in Ankara.
Europe heads into the Munich Security Conference, on Friday (13 February), amid deepening unease over U.S. policy, as President Donald Trump’s hard-line stance on defence, trade and territory fuels doubts about Washington’s long-term commitment to transatlantic security.
James Van Der Beek, who rose to fame as Dawson Leery in the hit teen drama Dawson’s Creek, has died aged 48 following a battle with stage 3 colorectal cancer.
U.S. President Donald Trump and Prime Minister of Israel Trump hosted Netanyahu for closed-door talks focused on negotiations with Tehran, Gaza and wider rBenjamin Netanyahu ended a two-and-a-half-hour meeting at The White House on Wednesday without reaching agreement on how to move forward on Iran.
Norway’s Sturla Holm Laegreid, who won bronze in the men’s biathlon at the Milano Cortina 2026 Winter Olympics on Tuesday (10 February) in Italy, stunned viewers by publicly admitting he had cheated on his girlfriend and pleaded for another chance during post-race interviews.
Türkiye and Greece signalled renewed political will to ease long-standing tensions during high-level talks in Ankara on Wednesday (11 February). Maritime borders, migration and trade topped the agenda as both leaders struck a cautiously optimistic tone.
Europe heads into the Munich Security Conference, on Friday (13 February), amid deepening unease over U.S. policy, as President Donald Trump’s hard-line stance on defence, trade and territory fuels doubts about Washington’s long-term commitment to transatlantic security.
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 13th of February, covering the latest developments you need to know.
Portugal's parliament approved a bill on Thursday (12 February), on its first reading, requiring explicit parental consent for children aged 13 to 16-years old to access social media, in one of the first concrete legislative moves in Europe to impose such restrictions.
A bipartisan group of 37 U.S. lawmakers have written to senior Taiwanese politicians expressing concern about parliament stalling proposed defence spending, saying that the threat posed by China has never been greater.
The Bangladesh National Party (BNP) won a decisive two-thirds majority in Friday's (13 February) general elections, a result expected to bring stability after months of tumult following the ouster of former Prime Minister Sheikh Hasina in a Gen Z-led uprising in 2024.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment