Lutnick: Tariff adjustments give automakers time to grow US plants

Lutnick will also appear on CNBC at 2 pm ET

• Adjustments to auto tariffs are aimed at allowing domestic automakers time to growth US plants and employment
• Executive orders growth out of detailed conversations with domestic car makers
• Manufacturers of domestic autos will get a 15% offset for the value of those vehicles against parts imports

Automakers aren’t exactly cheering the news today with share prices near flat.

This whole things sounds over-complex and ripe for abuse. Ronald Reagan warned that tariffs end in corruption.

This article was written by Adam Button at www.forexlive.com.