Originally Posted by Jim Moscheck
I have ordered and expect delivery of a new Mazda next month. Glad I didn't put any money down as there is no way I'm paying a 25% tariff. I'm sure I won't be only one choosing to not buy a new car. I was really looking forward to it as I haven't bought a new car this century and unless this changes I still won't. I'll expect used car prices will become more expensive, too.
Yep, that should really help the economy, huh?
Hmm, Tesla is number 1 and the only US automaker in the top 12 list of cars "mostly" made in the US. I guess one way to get Tesla sales up is to put 25% tariffs on the competition. Musk oughta get something for the $200M+ he spent to get Trump elected, right?
Wall Street should be fun tomorrow.
"After the announcement, U.S. automakers lost ground after the bell. General Motors (GM.N), opens new tab slumped 6%, while shares in Ford (F.N), opens new tab fell almost 5%."
"Nasdaq futures dropped 0.2% and S& 500 futures fell 0.1% in Asia. Wall Street already ended sharply lower on expectations of such a move, with the tech-heavy Nasdaq slumping more than 2% on Wednesday."
"European stock futures were in the red, with pan-European STOXX 50 futures down 0.5%.
Back in Asia, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS), opens new tab dropped 0.6%, also weighed by a pull-back in tech shares."
"Japan's Prime Minister Shigeru Ishiba said all options were on the table in response to the U.S. tariffs. Canada said it could impose retaliatory duties, while the European Union expressed regret but was seeking negotiated solutions."
"Analysts have warned Trump's tariff plans could stoke U.S. inflation, with the Federal Reserve already pausing its policy easing cycle.
St Louis Fed President Alberto Musalem said on Wednesday it was possible inflation would be higher and growth lower than expected and there was no urgency for the Fed to cut interest rates."
"Oil prices were marginally higher, having hit three-week tops on concerns about tighter global supply after U.S. threatened to slap tariffs on countries that buy Venezuelan oil." (That ought to increase gas prices, too)
https://www.reuters.com/markets/global-markets-wrapup-1-2025-03-27/