Tariffs Impact U.S. Auto Industry

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tariffs

NBC News

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Technology

How Trump's Canada and Mexico tariffs risk higher prices on cars

Summary

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76% Informative

President Donald Trump 's decision to impose a 25% tariff on all imports coming into the U.S. from Canada and Mexico will touch thousands of products across dozens of industries.

The tariffs are estimated to increase the cost of producing most vehicles in North America by $4,000 to $10,000 .

Automotive supply chain has become deeply interwoven, with millions of auto parts and vehicles flowing between Canada , Mexico and the United States each year .

The United Auto Workers calls the tariffs a "powerful tool in the toolbox for undoing the injustice of anti-worker trade deals" The union has long opposed free-trade deals with Canada and Mexico .

Still, automakers have been warning that the tariffs could ultimately cripple their supply chains.

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semi-formal

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English

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