Most levies on imported cars and car parts will remain in place, but automakers have secured some relaxation of the trade policy.

U.S. automakers are set to get a break on some of the sweeping tariffs President Donald Trump is imposing. Yet even with the new waivers, the outlook for America's longest-lived carmakers remains cloudy, with General Motors saying Tuesday it was "reassessing" its earnings guidance in light of the uncertainty over the tariffs impact.

President Trump is set to take action Tuesday to offer some relief to automakers from the effects of his steep tariffs.