TIG to announce new auto tariffs. (last call to get your checks in)
Steve
2 Likes
Seems my portfolio has an inverse relationship with the averages. Down grievously yesterday, up a bunch today.
Steve
Well the EO apparently sets 25% tariff, on top of existing tariffs, he said during the event, on every car imported to the US, regardless what foreign country it comes from.
Seems Farley got half a loaf, his Japanese and Korean competition is tariffed, but so are his Mexican cars and ChiCom parts.
Steve
When I was a kid Ireland had 100% tax on cars. Ireland made no cars. I guess we have goals in the USofA.
Today, Trump announced the US will impose 25% duties on all cars and light trucks not made in the United States starting on April 2nd
25% wide-ranging tariffs on all goods coming from Mexico and Canada, including in the automotive sector, were delayed.
The only good news is that there are no tariffs on parts coming from Canada and Mexico. Therefore, the industry only has to absorb the increased tariffs on Chinese auto parts and the steel and aluminum tariffs imposed on Canada.
However, the US automakers must prepare for reciprocal tariffs in other markets in response to Trump’s announcement.