Edgy world braces for 'Liberation Day'

US AUTOMAKERS ARE making a last-ditch effort to sway the Trump administration on tariffs set to take effect this week, contending that levies on the thousands of parts they source abroad could have catastrophic effects on the industry.

- BLOOMBERG

Ford, General Motors and Chrysler parent Stellantis NV are lobbying the administration to exclude certain low-cost car components from the planned tariffs, according to people familiar with the matter.

Executives have met with the White House, the Commerce Department and the office of the US Trade Representative to discuss the exclusion, said the people, who asked not to be identified revealing internal discussions.

President Donald Trump's levies, aimed at bolstering the American auto industry, stand to have ripple effects for the US carmakers that have increasingly turned to low-cost countries for the many parts that make up a modern automobile. Many automakers have stockpiled cars in the US in recent weeks to avoid the tariff impact and car buyers flocked to dealerships to make purchases before the levies took effect.

The impact of that brief surge in demand will come into focus Tuesday as most of the industry reports US vehicle sales results for the first quarter.Detroit's automakers have conceded that they're willing to pay tariffs on completed cars and large components like engines and transmissions, the people familiar with THE EUROPEAN UNION said it will use a broad range of options to retaliate against the US if President Donald Trump follows through on his threat to impose so-called reciprocal tariffs on the bloc this week.