[U.S. Senator Says Trump Considering Significant Tariff Reductions for U.S. Auto Production] According to a report by Jinse Finance, citing foreign media, on Friday local time, Republican Senator Bernie Moreno and automotive industry executives stated that U.S. President Trump is considering offering significant tariff reductions for U.S. auto production. This move could effectively eliminate a substantial portion of the costs currently borne by major automakers. Moreno said, "This sends a signal to global car companies: as long as you complete final assembly in the United States, we will reward you. For Ford, Toyota, Honda, Tesla, General Motors—these are almost the top five localized production automakers in order—they will be exempt from tariff impacts." In June of this year, the U.S. Department of Commerce stated that it planned to offer import deductions for eligible vehicles assembled in the U.S., equivalent to 3.75% of the suggested retail price, effective until April 2026, and then adjusted to 2.5% the following year to address tariffs on imported auto parts. Moreno and automotive industry executives said Trump is considering maintaining the deduction rate at 3.75% and extending it for five years, while also expanding its scope to include U.S. engine production. Moreno stated that he believes Trump will make a final decision soon.