Automakers Brace for Impact of Trump Tariff Plan for Canada and Mexico
North American car companies have operated across borders for three decades. Tariffs would raise prices and cost jobs in the short run, analysts say.
It Is Happening Every Day, Every Where
North American car companies have operated across borders for three decades. Tariffs would raise prices and cost jobs in the short run, analysts say.
While much about the threatened tariffs is still unclear, experts predict they would be bad news for all three economies, with few winners.
Automakers and even some Republicans may fight to preserve funds, and environmental activists will likely sue, but some experts said that some changes may not survive legal challenges.
Rules for a $7,500 tax break for electric vehicle purchases and leases recently changed, but more far-reaching changes are expected when President-elect Donald J. Trump takes office.
Gov. Gretchen Whitmer addressed the Detroit Auto Show, saying that tariffs should not be used “to punish our closest trading partners,” like Canada.
More car buyers are expected to eventually pick battery-powered cars and trucks as prices fall and technology improves, even if Biden-era incentives disappear.
The United Automobile Workers union asked a federal labor regulator to conduct an election at a factory Ford jointly owns with a South Korean battery company.