Almost all automakers are going to feel a pinch from the new tariffs imposed by President Trump on Saturday on goods imported from Canada, Mexico and China. Auto manufacturers ship tens of billions of dollars worth of finished automobiles, engines, transmissions and other components each week across the U.S. borders with Canada and Mexico. Billions … Read more
After about a week of conflicting signals, the new Trump administration announced that the long-threatened 25 percent tariffs on imports from Canada and Mexico would take effect on Saturday, the first salvo of what is expected to be a trade war between the allies. [Read: Trump Will Hit Mexico, Canada and China With Tariffs] When … Read more
When Dennis Nixon started working at a regional bank in Laredo, Texas, in 1975, there was just a trickle of trade across the border with Mexico. Now, nearly a billion dollars of commerce and more than 15,000 trucks roll over the line every day just a quarter mile from his office, binding the economies of … Read more
As European automakers brace for a possible trade war waged by President Trump, they are working to ward off another threat on their home turf: the prospect of paying hundreds of millions of dollars to Tesla and Chinese competitors muscling in on their core markets. Under stricter European Union regulations taking effect this year, automakers … Read more
Tesla on Wednesday reported a sharp drop in profit for 2024 as rivals in China, Europe and the United States chipped away at its lead in the market for electric cars. The company, which is led by Elon Musk, said it made a profit of $2.3 billion during the last three months of 2024. That … Read more
General Motors executives are closely tracking President Trump’s plans to impose tariffs on imports from Canada and Mexico, but the company is not yet making any major changes to its strategy in North America in response to the threatened tariffs. The automaker has pulled together an “extensive playbook” of possible options but won’t put them … Read more
The leader of Canada’s most populous province and the heart of its vital auto industry said on Friday that he would call early elections because he needed a stronger hand to deal with President Trump’s plan to impose tariffs on Canadian exports. “With a strong mandate, we will be able to fight with Donald Trump … Read more
The Trump administration intends to push to renegotiate the U.S. trade deal with Canada and Mexico ahead of a required 2026 review of it, seeking to shore up U.S. auto jobs and counter Chinese firms that are making inroads into the Mexican auto sector, people familiar with the deliberations said. The U.S.-Mexico-Canada Agreement, which Mr. … Read more
Decades of trade integration across North America are on the precipice of major disruption by tariffs that President Trump says he wants to impose on Canada and Mexico, the United States’ top trading partners. And while tariffs are predicted to inflict pain on all three nations, they would cause more damage to Canada and Mexico, … Read more
If President Trump has his way, the auto industry’s transition to electric vehicles will soon slam into reverse. He will erase tax credits for electric vehicle purchases, federal grants for chargers, and subsidies and loans to help retool assembly lines and build battery factories. Executive orders issued by Mr. Trump on Inauguration Day amount to … Read more