U.S. President Donald Trump has said that he has no intention of creating exemptions on steel and aluminum tariffs, adding that reciprocal and sectoral tariffs will be imposed on April 2. Speaking to reporters on Air Force One,

One economic impact analysis of Trump’s 2018 steel and aluminum tariffs – which had exemptions for the U.S.’s largest trading partners – found that the average price of hot-rolled steel increased more than 166 percent from $697 per metric ton to $1,855 per metric ton between December 2017 and December 2021.

MEMA said it remains committed to working with policymakers to support trade policies that balance economic stability with the needs of the vehicle supplier industry.