On Wednesday, Prime Minister Mark Carney’s election campaign had brought him to the bridge between Windsor, Ontario, and Detroit, over which $300 million worth of auto parts cross daily. He unveiled a series of promises of programs for workers and auto-related industries that would be rolled out if President Trump imposed tariffs on products from … Read more
Xi Jinping, China’s top leader, met with top executives of Saudi Aramco, BMW, Toyota Motor, FedEx and dozens of other foreign companies at the Great Hall of the People in Beijing on Friday as China seeks to boost foreign investment amid worsening trade relations between China and the United States. It was the third time … Read more
President Trump and his supporters have clashed with mainstream economists for years about the merits of tariffs. Now, the world will get to see who is right, as the president’s sweeping levies on automobiles and auto parts play out in a real-time experiment on the global economy. In Mr. Trump’s telling, tariffs have a straightforward … Read more
As in many places around the world, Tesla sales in Canada have been falling for months, an apparent reaction to Elon Musk’s outsize role in the Trump administration and his repeated denigration of Canadian sovereignty. Yet somehow, four Tesla- owned dealerships reported to the Canadian government that they sold an astonishing 8,653 cars during a … Read more
President Trump’s sweeping tariffs on automobiles drew a sharp reaction on Thursday from Germany, which called on the European Union to hit back with a “firm response” to measures that would “harm the U.S. and the E.U., and global trade as a whole.” Mr. Trump announced on Wednesday that he would impose a 25 percent … Read more
Mexico deployed thousands of National Guard troops to the border to deter migrants from reaching the United States. South Korea said it would invest $21 billion in expanding U.S. manufacturing. Japanese officials descended on Washington, offering to invest $1 trillion in the United States and buy more American natural gas. None of that was enough … Read more
President Trump’s unexpected plan to impose a 25 percent tariff on cars and car parts being imported into the United States will not only disrupt supply chains. It will also fuel anger, alienation — and pressure to retaliate — among American allies across the globe. Many of the countries most affected by the new levies, … Read more
President Trump said on Wednesday that he would impose a 25 percent tariff on cars and car parts that were imported into the United States, a move that could encourage U.S. auto production over the longer run but is likely to throw global supply chains into disarray and raise prices for Americans who buy an … Read more
After months of threats, the White House unveiled plans on Wednesday to impose tariffs on automobiles imported to the United States, a plan that is likely to hit car companies across the European Union hard. The move — which would place a 25 percent tariff on all cars not built in the United States — … Read more
Stocks slumped on Wednesday ahead of President Trump’s expected announcement of tariffs on auto imports, as investors braced for levies that could disrupt carmakers’ supply chains and raise costs for consumers. The S&P 500 was roughly 1.2 percent lower in afternoon trading, and the tech-heavy Nasdaq Composite was down 2.2 percent. The downturn reflected ongoing … Read more