Fact Sheet: President Donald J. Trump Incentivizes Domestic Automobile Production

Fact sheetTariff cut or exemptionPublished 25/04/29Open the original

Summary

President Trump modifies tariff treatment for automobiles and automobile parts to encourage assembly in the U.S. Parts used in U.S.-assembled vehicles receive a tariff offset for April 3, 2025 to April 30, 2026 and for May 1, 2026 to April 30, 2027, while other automobile imports remain subject to a 25% tariff.

By industry

Tariffs & Reshoring1 trading day−0.1%p15 stocks5 trading days+1.6%p15 stocks20 trading days−2.0%p15 stocks
“The proclamation modifies the tariff action on automobiles and automobile parts”
Batteries, EVs & the IRA1 trading day−0.6%p15 stocks5 trading days−4.5%p15 stocks20 trading days−1.8%p15 stocks
“incentivizing domestic automobile production”

Day by day after the announcement

Tariffs & Reshoring stocks and the S&P 500 after the announcement, cumulative %
Day	Tariffs & Reshoring stocks	S&P 500
25/04/28	0.0%	0.0%
25/04/29	+0.4%	+0.5%
25/04/30	−0.5%	+1.4%
25/05/01	+1.5%	+1.3%
25/05/02	+5.2%	+3.0%
25/05/05	+4.0%	+2.4%
25/05/06	+3.2%	+2.4%
25/05/07	+2.4%	+2.0%
25/05/08	+2.5%	+2.6%
25/05/09	+1.8%	+2.6%
25/05/12	+7.0%	+6.0%
25/05/13	+8.0%	+6.6%
25/05/14	+7.7%	+6.7%
25/05/15	+7.1%	+7.3%
25/05/16	+7.9%	+7.0%
25/05/19	+7.8%	+8.1%
25/05/20	+7.0%	+7.7%
25/05/21	+4.3%	+5.9%
25/05/22	+3.3%	+6.0%
25/05/23	+2.4%	+5.2%
25/05/27	+5.5%	+7.5%

Korean stocks in these industries

Hyundai Steel 004020
POSCO Holdings 005490
SeAH Steel Holdings 003030
LG Energy Solution 373220
Samsung SDI 006400
SK Innovation 096770

Trades in these industries around the announcement

Members' and insiders' trades in the industries' stocks, 30 days before to 30 days after.

Joseph GebbiaDirector
BuyTesla
Buy
Tesla
TSLA
$1M
4,000 sh
$1M
Filed 25/04/28
Traded 25/04/24
Badrinarayanan KothandaramanPresident & CEO
BuyEnphase Energy
Buy
Enphase Energy
ENPH
$185.4K
4,000 sh
$185.4K
Filed 25/04/28
Traded 25/04/25
Ira Matthew EhrenpreisDirector
Sell10b5-1 planTesla
Sell10b5-1 plan
Tesla
TSLA
$30.1M
84,390 sh
$30.1M
Filed 25/05/29
Traded 25/05/27
Ira Matthew EhrenpreisDirector
Sell10b5-1 planTesla
Sell10b5-1 plan
Tesla
TSLA
$20.9M
58,885 sh
$20.9M
Filed 25/05/29
Traded 25/05/27
Ira Matthew EhrenpreisDirector
Sell10b5-1 planTesla
Sell10b5-1 plan
Tesla
TSLA
$19.3M
53,594 sh
$19.3M
Filed 25/05/29
Traded 25/05/27
Robyn M. DenholmDirector
Sell10b5-1 planTesla
Sell10b5-1 plan
Tesla
TSLA
$16.6M
58,047 sh
$16.6M
Filed 25/05/01
Traded 25/04/29
Ira Matthew EhrenpreisDirector
Sell10b5-1 planTesla
Sell10b5-1 plan
Tesla
TSLA
$15M
41,283 sh
$15M
Filed 25/05/29
Traded 25/05/27
Robyn M. DenholmDirector
Sell10b5-1 planTesla
Sell10b5-1 plan
Tesla
TSLA
$13.7M
50,259 sh
$13.7M
Filed 25/05/08
Traded 25/05/06
Ira Matthew EhrenpreisDirector
Sell10b5-1 planTesla
Sell10b5-1 plan
Tesla
TSLA
$12.4M
34,814 sh
$12.4M
Filed 25/05/29
Traded 25/05/27
Ira Matthew EhrenpreisDirector
Sell10b5-1 planTesla
Sell10b5-1 plan
Tesla
TSLA
$12.3M
34,199 sh
$12.3M
Filed 25/05/29
Traded 25/05/27
Ira Matthew EhrenpreisDirector
Sell10b5-1 planTesla
Sell10b5-1 plan
Tesla
TSLA
$12.2M
34,542 sh
$12.2M
Filed 25/05/29
Traded 25/05/27
Vaibhav TanejaCFO
Sell10b5-1 planTesla
Sell10b5-1 plan
Tesla
TSLA
$1.2M
4,000 sh
$1.2M
Filed 25/05/13
Traded 25/05/09
Vaibhav TanejaCFO
Sell10b5-1 planTesla
Sell10b5-1 plan
Tesla
TSLA
$1.1M
3,000 sh
$1.1M
Filed 25/05/20
Traded 25/05/16
Vaibhav TanejaCFO
Sell10b5-1 planTesla
Sell10b5-1 plan
Tesla
TSLA
$1M
4,000 sh
$1M
Filed 25/04/09
Traded 25/04/07
Ira Matthew EhrenpreisDirector
Sell10b5-1 planTesla
Sell10b5-1 plan
Tesla
TSLA
$9.7M
26,810 sh
$9.7M
Filed 25/05/29
Traded 25/05/27
Ira Matthew EhrenpreisDirector
Sell10b5-1 planTesla
Sell10b5-1 plan
Tesla
TSLA
$9M
25,096 sh
$9M
Filed 25/05/29
Traded 25/05/27
Robyn M. DenholmDirector
Sell10b5-1 planTesla
Sell10b5-1 plan
Tesla
TSLA
$8.6M
31,404 sh
$8.6M
Filed 25/05/08
Traded 25/05/06
Ira Matthew EhrenpreisDirector
Sell10b5-1 planTesla
Sell10b5-1 plan
Tesla
TSLA
$7.9M
21,826 sh
$7.9M
Filed 25/05/29
Traded 25/05/27
Ira Matthew EhrenpreisDirector
Sell10b5-1 planTesla
Sell10b5-1 plan
Tesla
TSLA
$7M
19,877 sh
$7M
Filed 25/05/29
Traded 25/05/27
Ira Matthew EhrenpreisDirector
Sell10b5-1 planTesla
Sell10b5-1 plan
Tesla
TSLA
$6M
17,100 sh
$6M
Filed 25/05/29
Traded 25/05/27