Trump’s 25% Tariff Shakes Auto World!
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“I couldn’t care less if they raise prices, because people are going to start buying American cars.”
From CNN
Working-class car buyers will be the hardest hit by U.S. President Donald Trump’s 25% tariff on imported vehicles because almost all low-cost new cars sold in the United States are built elsewhere.
From Reuters
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UAW president supports Trump’s tariffs
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12hon MSN
President Donald Trump’s 25% tariffs on imported cars and car parts will cause “pure chaos” in the auto industry and hike car prices by up to $10,000 or $15,000, wrote analysts at Wedbush Securities.
There are still a lot of unknowns, but if this remains in place, there will clearly be some pain for the companies to digest.”
Paslin supplies assembly lines but because of tariffs, automakers have put vehicle projects on pause. How Paslin is staying afloat amid lost work.
15hon MSN
The Today in Ohio podcast on Friday questioned whether Donald Trump’s auto tariff announcement was intended to divert attention for an embarrassing security breach and pilloried the hypocrisy of Bernie Moreno for supporting the tariffs after making a fortune selling foreign cars.
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(Reuters) - Canada and Mexico won protections against potential new U.S. auto tariffs in 2018 as part of the U.S.-Mexico-Canada Agreement on trade, but there is no evidence that President Donald Trump will honor those commitments as he imposes 25% duties on global automotive imports.
Inventory levels are elevated at many dealerships, reflecting a slowdown in sales and a decrease in lease returns. While some industry experts believe car sales will persevere, others warn of production disruptions, price increases and potential layoffs if tariffs persist.
U.S. President Donald Trump's announcement of a 25% tariff on auto imports rippled throughout the world on Thursday, as global carmakers warned of immediate price hikes and dealers raised fears of job losses in big auto-exporting countries,
Once again, Mexico’s president Claudia Sheinbaum has adopted a wait-and-see strategy. When US President Donald Trump announced steep tariffs on all cars shipped to the United States – a significant escalation in a global trade war – she stuck to pragmatism and patience.