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Proposed 25% U.S. tariffs on Canada and Mexico could lead to a sharp increase in vehicle prices, auto industry executives and analysts say.
Since his inauguration, he has imposed a 10% tariff on all imports from China, on top of existing levies; announced and then delayed for a month 25% tariffs on goods from Mexico and non-energy ...
The largest sector by far to be affected by new tariffs would be autos and auto parts, which accounted for $129 billion worth of imports from Mexico in 2023. The supply chains of the three members ...
The tariffs would also cause risk to the U.S. farming and fishing industries. [8] The tariffs pose a risk of "severe recession" in Mexico if maintained. [4] A year-long 25 percent tariff could cause Mexican exports to fall by around 12 percent, ultimately leading to a 4 percent decline in the country's gross domestic product in 2025. [10]
President Donald Trump's proposed 25% tariffs on imports from Mexico and Canada and 10% on goods from China would likely raise the average price for a new car and could lead to massive layoffs ...
Auto stocks took a battering on Monday as the market reckoned with the reality of President Donald Trump’s 25% blanket tariff on all goods from Mexico and Canada. The selloff subsided, however ...
Trump's tariffs on Canada and Mexico could raise average new car prices by $2,700, Jefferies analysts found. The levies will hit automakers like GM and Stellantis, which import vehicles from ...
Another $78 billion in auto parts came from Mexico and $20 billion from Canada. The engines in Ford F-series pickups and the iconic Mustang sports coupe, for instance, come from Canada.