Ford CEO: "Let's be real honest,"a 25% tariff across the Mexico and Canadian border will blow a hole in the U.S. industry that we have never seen."Posted By Rod Kaufman |
"As President Trump's once-postponed 25% tariffs on Canada and Mexico are poised to transition from a threat to a reality, the auto industry is preparing for higher costs and an extraordinary disruption to their North American supply chains."
"Trump called his announcement "very exciting" for the auto industry and said it would benefit from his tariff plan. "So what they have to do is build their car plants, frankly, and other things in the United States, in which case they have no tariffs," Trump said.
"But the auto industry itself has been vocally opposed to these tariffs. And that's in large part because car plants in the U.S. rely on parts from Canada and Mexico."
"Trump called his announcement "very exciting" for the auto industry and said it would benefit from his tariff plan. "So what they have to do is build their car plants, frankly, and other things in the United States, in which case they have no tariffs," Trump said.
"...Detroit automakers will be particularly vulnerable, compared to their international competitors."
"The investment bank Jefferies has predicted prices would go up by about 6% on average, or $2,700, while two analyses cited by Kelley Blue Book agreed on a $3,000 average price bump.
"Vehicle prices, of course, are already quite high, averaging about $48,000, which is out of reach for many car shoppers."
https://www.npr.org/2025/03/03/nx-s1-5316162/trump-tariffs-canada-mexico-cars-auto-industry
"Trump called his announcement "very exciting" for the auto industry and said it would benefit from his tariff plan. "So what they have to do is build their car plants, frankly, and other things in the United States, in which case they have no tariffs," Trump said.
"But the auto industry itself has been vocally opposed to these tariffs. And that's in large part because car plants in the U.S. rely on parts from Canada and Mexico."
"Trump called his announcement "very exciting" for the auto industry and said it would benefit from his tariff plan. "So what they have to do is build their car plants, frankly, and other things in the United States, in which case they have no tariffs," Trump said.
"...Detroit automakers will be particularly vulnerable, compared to their international competitors."
"The investment bank Jefferies has predicted prices would go up by about 6% on average, or $2,700, while two analyses cited by Kelley Blue Book agreed on a $3,000 average price bump.
"Vehicle prices, of course, are already quite high, averaging about $48,000, which is out of reach for many car shoppers."
https://www.npr.org/2025/03/03/nx-s1-5316162/trump-tariffs-canada-mexico-cars-auto-industry