Shifting tariff policy driving auto industry uncertainty
WISH-TV
[{'start': '0.320', 'end': '3.840', 'text': 'President Trump is shifting his auto'}, {'start': '1.920', 'end': '5.839', 'text': "tariff policy this week. He's now"}, {'start': '3.840', 'end': '8.000', 'text': 'telling supporters in Michigan. The'}, {'start': '5.839', 'end': '10.320', 'text': 'change will give US car companies a'}, {'start': '8.000', 'end': '12.559', 'text': 'little bit of a break. Brian Ael reports'}, {'start': '10.320', 'end': '14.000', 'text': 'on what that break is and what it all'}, {'start': '12.559', 'end': '16.400', 'text': "means for you, especially if you're"}, {'start': '14.000', 'end': '18.160', 'text': "looking to get a car soon. I've just"}, {'start': '16.400', 'end': '21.199', 'text': 'signed an executive order to give'}, {'start': '18.160', 'end': '23.119', 'text': 'partial tariff rebates to any company'}, {'start': '21.199', 'end': '25.359', 'text': 'that assembles its cars right here in'}, {'start': '23.119', 'end': '28.240', 'text': 'the US. President Donald Trump this week'}, {'start': '25.359', 'end': '30.800', 'text': 'easing off the auto tariff accelerator.'}, {'start': '28.240', 'end': '33.360', 'text': 'In March, Trump announced a 25% tariff'}, {'start': '30.800', 'end': '35.440', 'text': "on imported cars and parts. That's set"}, {'start': '33.360', 'end': '37.840', 'text': 'to go into effect this weekend. But now,'}, {'start': '35.440', 'end': '39.879', 'text': 'US manufacturers could be reimbursed on'}, {'start': '37.840', 'end': '43.040', 'text': 'imported parts up to'}, {'start': '39.879', 'end': '45.920', 'text': '3.75% of the value of a domestically'}, {'start': '43.040', 'end': '49.200', 'text': 'produced car. After a year, that drops'}, {'start': '45.920', 'end': '51.520', 'text': "to 2.5%. It's barely any relief at all,"}, {'start': '49.200', 'end': '53.600', 'text': 'and it only lasts for 2 years. And it'}, {'start': '51.520', 'end': '56.160', 'text': 'only applies to automakers that assemble'}, {'start': '53.600', 'end': '58.800', 'text': 'cars in the United States. For those'}, {'start': '56.160', 'end': '60.960', 'text': 'that do not assemble vehicles in the US,'}, {'start': '58.800', 'end': '63.840', 'text': 'this is going to be a disaster. Auto'}, {'start': '60.960', 'end': '66.560', 'text': 'lines John Mroy says auto companies are'}, {'start': '63.840', 'end': '69.119', 'text': 'bulking up their inventories to save off'}, {'start': '66.560', 'end': '71.600', 'text': 'immediate tariff impact, but those will'}, {'start': '69.119', 'end': '73.439', 'text': "be depleted come July. And that's when I"}, {'start': '71.600', 'end': '77.360', 'text': "predict you're going to see new car"}, {'start': '73.439', 'end': '80.000', 'text': 'sales in the US nose. The CEOs of Ford'}, {'start': '77.360', 'end': '82.479', 'text': 'and GM bracing for the changes. You'}, {'start': '80.000', 'end': '84.479', 'text': 'know, the stuff we built now is priced.'}, {'start': '82.479', 'end': '86.720', 'text': 'If we announce a price increase now,'}, {'start': '84.479', 'end': '88.400', 'text': "it'll go into play in July and August."}, {'start': '86.720', 'end': '90.479', 'text': 'What we provided in our guidance is that'}, {'start': '88.400', 'end': '92.479', 'text': 'pricing is going to stay about at the'}, {'start': '90.479', 'end': '95.759', 'text': 'same levels that it is. But experts like'}, {'start': '92.479', 'end': '98.400', 'text': 'Mroy estimate cost for a car could jump'}, {'start': '95.759', 'end': '100.400', 'text': 'by thousands depending upon the model.'}, {'start': '98.400', 'end': '102.159', 'text': 'That will cause car sales to go down and'}, {'start': '100.400', 'end': '104.880', 'text': "in some cases it's going to lead to"}, {'start': '102.159', 'end': '107.280', 'text': 'layoffs. If I had to buy another car'}, {'start': '104.880', 'end': '110.240', 'text': "right now, whether it's new or used, I"}, {'start': '107.280', 'end': '113.680', 'text': 'would rush out and try to buy it. In'}, {'start': '110.240', 'end': '113.680', 'text': 'Washington, Brian Eel reporting.'}]