Mr. Trump's claim about tariffs lowering taxes amounts to "an argument that says, 'If Americans pay more out of their left pocket, the government will be able to put more in their right pocket,'" said Joe Rosenberg, senior fellow at the Urban-Brookings Tax Policy Center, another think tank focused on taxes.

President Donald Trump’s revised auto tariff plan continues — at least for now — an exemption for parts that comply with the free trade agreement spanning North America, a concession desperately sought by industry.

Mercedes-Benz’s manufacturing plant in Tuscaloosa, Alabama, will build a new vehicle for the luxury automaker, according to a Thursday announcement.