Summarize this content to 2000 words in 6 paragraphs in Arabic ADVERTISEMENTThe Trump administration has signalled tariff relief on auto parts following intense lobbying by industrial leaders. On Monday, White House officials confirmed President Trump\u2019s plan to reduce tariffs on auto parts for cars manufactured in the United States, as first reported by The Wall Street Journal. The administration will also prevent automakers from paying tariffs on top of existing levies, such as those on steel and aluminium. A proclamation formalising the change is expected to be signed by the president as soon as Tuesday.\u201cPresident Trump is building an important partnership with both the domestic automakers and our great American workers,\u201d said Commerce Secretary Howard Lutnick in a statement. \u201cThis deal is a major victory for the president\u2019s trade policy by rewarding companies that manufacture domestically, while providing runway to manufacturers who have expressed their commitment to invest in America and expand their domestic manufacturing.\u201dThe decision echoes Trump\u2019s indication in mid-April that he wanted to \u201chelp car companies,\u201d giving them \u201ca little bit of time\u201d to shift parts production domestically. Trump had exempted auto parts from the 25% tariffs until 3 May. Some major US carmakers, such as Tesla and Ford, have either paused plans for the mass production of new models or suspended shipments to China due to retaliatory tariffs.Trump has made a series of U-turns since announcing reciprocal tariffs on all countries at the beginning of the month. Investors accelerated their offloading of US assets amid growing uncertainties, with economists warning of a sharp economic slowdown caused by the global trade war. Earlier this month, Trump also exempted electronic products from the reciprocal tariffs following significant sell-offs in Apple\u2019s stock. \u201cI helped Tim Cook recently and that whole business,\u201d he told reporters.On Monday, China once again denied any ongoing tariff negotiations with the United States, although Trump has repeatedly claimed trade talks were underway. Treasury Secretary Stott Bessent said in an interview with CNBC that \u201cit\u2019s up to China to de-escalate\u201d the trade war. Nevertheless, the Trump administration appears to be softening its hard-line tariff stance, continuing to fuel a relief rally across global markets ahead of major US technology earnings later this week.European markets open higher as global rally continuesThe news, as expected, lifted European stock markets. As of 09:15 am CEST, Germany\u2019s DAX had risen 0.46%, the Euro Stoxx 50 was up 0.33%, the CAC 40 was 0.06% higher – and the FTSE 100 was up 0.11%.Global stock markets also extended their rebound during Tuesday\u2019s Asian session. As of 5:30 am CEST, Japan\u2019s Nikkei 225 was up 0.38%, Australia\u2019s ASX 200 gained 0.96%, Hong Kong\u2019s Hang Seng Index jumped 2%, and South Korea\u2019s Kospi rose 0.63%. On Wall Street, US futures were also higher, with the Dow Jones up 0.12%, the S&P 500 gaining 0.16%, and the Nasdaq advancing 0.22%.However, the euro weakened against the US dollar during the Asian session as risk-off sentiment continued to fade amid signs of a de-escalation in the US-China trade war. The retreat in haven demand pressured traditional safe-haven currencies, including the euro and the Swiss franc, while gold also pulled back sharply. As of 5:46 am CEST, the EUR\/USD pair had fallen 0.37% and the USD\/CHF pair had dropped 0.55% in Tuesday\u2019s session. Spot gold also declined by 1% to $3,311 per ounce following a modest rebound on Monday.<\/p>\n","protected":false},"excerpt":{"rendered":"
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