Trump’s Tariff Threats Loom Over U.S. Auto Industry As Major Automakers Could Face Billions In Losses

Trump’s Tariff Threats Loom Over U.S. Auto Industry As Major Automakers Could Face Billions In Losses

Automakers brace for potential disruptions as President Trump threatens 25 tariffs on imports from Canada and Mexico. Most major automakers in the U.S. rely heavily on imports from Mexico to meet domestic demand. Nearly every top-selling automaker has at least one manufacturing plant in Mexico, contributing to over 70 of U.S. sales in 2024. Analysts warn tariffs could significantly raise vehicle prices, reducing consumer demand. Wells Fargo estimates traditional automakers could lose billions annually. S&P Global Mobility predicts a 25 tariff could add over $6,000 to the cost of a $25,000 vehicle.


User: Benzinga

Views: 192

Uploaded: 2025-01-31

Duration: 00:46

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