President Donald Trump’s decision to impose sweeping tariffs on auto imports from Mexico, Canada and the European Union (EU) is set to send shockwaves across the global automotive industry. A whopping 25% tariff on vehicles and parts from these key trade partners is set to take effect on April 2,
President Donald Trump doubled down on his pledge to impose tariffs on imports from Canada and Mexico Monday–but investors didn't seem too fazed by the U.S. leader's latest comments, judging by premarket action.
Automakers such as General Motors and South Korea-based Hyundai Motor export vehicles tariff-free from South Korea.
The Franco-Italian-U.S. group argued that Trump's administration should avoid implementing tariffs that would disproportionately hit automakers that build most of their vehicles in the U.S., including the 25% duties on Mexico and Canada that are poised to go into effect in early March.
US President Donald Trump has announced his plans to impose tariffs on imported automobiles around April 2. The President did not clarify if these tariffs would be applicable universally to all auto imports.
Michigan-based Anderson Economic Group said Friday that tariffs could add unabsorbable costs for American automakers.
Yahoo Finance will chronicle the latest news and updates on Trump's tariffs — from the threats to the eventual policy.
General Motors Co. plans to step up its program of buybacks by repurchasing $6 billion in shares and raising its dividend, rewarding investors by pushing more cash off its balance sheet.