President Donald Trump is considering exemptions for automakers from some tariffs announced by his administration, the White House confirmed Wednesday to CNBC's Eamon Javers. The confirmation follows a Financial Times report that Trump is planning to exempt auto parts from tariffs on imports from China.

President Trump's tariffs on automobiles are benefiting Tennessee as Nissan announced it would reverse an earlier decision to cut back production at its plant in Smyrna. Why it matters: A primary goal of Trump's aggressive tariff strategy is to boost U.

Treasury Secretary Scott Bessent said President Trump will not reduce tariffs on China without an agreement by both governments to de-escalate their trade conflict.