It Is Happening Every Day, Every Where
The president said he “couldn’t care less” if automakers rose prices in response to planned tariffs, reasoning that buyers would choose U.S.-made cars over foreign brands.
The scale of the damage depends on the circumstances of each company’s supply chain.
President Trump’s approach to tariffs has unsettled many corporate leaders who believed he would use the levies as a negotiating tool. As it turns out, he sees them as an end in themselves.
The S&P 500 jumped about 1.2 percent on Wednesday, after two days of declines. Shares of automakers rallied.
The United Automobile Workers union has been pressing the automaker, which owns Chrysler and Jeep, to revive the plant in Belvidere, Ill.
North American car companies have operated across borders for three decades. Tariffs would raise prices and cost jobs in the short run, analysts say.
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.
The president-elect’s vow to impose 25 percent duties on Canadian imports could ravage Canada’s auto industry and decimate Windsor, a city deeply tied to the U.S.