LONDON - US President Donald Trump plans to spare carmakers from some tariffs, Financial Times reported on Wednesday, citing two people with knowledge of the matter.

The report said that, as part of a tariff "destacking" plan, car parts would be relieved of some of the duties Trump imposed.

The exemptions, however, would leave in place a 25 percent tariff that Trump imposed on all imports of foreign-made cars. A separate 25 percent levy on parts would also remain and is due to take effect from May 3, according to the FT.

"Although Washington has already shielded autos from the 'reciprocal' tariffs announced on major trading partners, US auto companies have in recent weeks pushed for further exemptions," the FT said.

"The concessions would mark an initial win for the auto sector and another retreat by Trump on his most aggressive tariffs amid concerns that they would push up U.S. car prices, disrupt supply chains and cause job losses," it added.

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Car executives have stepped up their criticism of the auto tariffs, with Stellantis Chairman John Elkann warning that "American and European car industries are being put at risk" by Trump's trade policy, according to the FT.