Trump threatens 25-percent tariff on imported cars

29 Nov
Donald TrumpIn the wake of General Motors' announcement Monday that it plans to close three assembly plants in the U.S. and lay off thousands of workers, President Donald Trump threatened on Twitter Wednesday that he could increase import taxes on passenger cars to match those levied on trucks. In a pair of tweets, Trump cited a long-standing 25-percent...

NAFTA replacement USMCA could make Mexico-built cars more expensive

1 Oct
FCA's Windsor, Ontario, assembly plantAn 11th-hour agreement Sunday night between the U.S. and Canada sealed a new trade deal between the three primary North American economies that could increase the cost of building cars in Mexico. The new deal—the United States-Mexico-Canada-Agreement—replaces the Clinton-era NAFTA. While much of the new USMCA trade deal is focused on...

Global trade war prompts Volvo to put brakes on its IPO

10 Sep
2019 Volvo XC60Volvo said Monday that the global trade war spurred by U.S. President Donald Trump has forced it to delay its plans for an initial public offering. “The issues around trade are hard for us because they impact cars shipped between China and the U.S. It’s a huge drawback,” Volvo Chief Executive Officer Hakan Samuelsson told...

Citing Trump tariffs, Ford cancels China-built Focus Active crossover for US

31 Aug
2020 Ford Focus ActiveFord Motor Company quickly axed from its U.S. lineup a small crossover based on its global-market Focus, telling reporters Friday that it won't import the car from China next year. The automaker said that its decision to renege on previously announced plans to ship the Ford Focus Active crossover from Asia was based on 25-percent import tariffs...

GM asks Trump administration for tariff break on China-built Buick Envision SUV

3 Aug
2019 Buick EnvisionGeneral Motors on Monday sent a letter to the Trump administration asking to exclude its China-made Buick Envision crossover SUV from the new 25-percent import tariff on cars built in China. The Detroit automaker said in the letter to U.S. Trade Representative Robert Lighthizer that "Envision sales generate capital that GM can invest in the U.S...

BMW to raise prices on US-built SUVs in response to tariffs imposed after Trump threats

10 Jul
2019 BMW X5Following an announcement from BMW Group that it will be ramping up production in China to serve its largest market, the German automaker also confirmed Monday that it will raise prices on U.S.-built crossover SUVs in response to President Trump’s proposed foreign-built vehicle tariffs. MORE: BMW ramps up manufacturing in China with...

Trump imposes hefty import duties on imported steel, aluminum used to build cars in U.S.

31 May
Cadillac CT6 uses advanced aluminum and steel structure to save 198 poundsThe U.S. Commerce Department said Thursday that it won't exempt major U.S. trading partners from duties as high as 25 percent on the raw materials imported to the U.S. used to build new cars. The new protectionist import tariffs announced Thursday by Commerce Secretary Wilbur Ross on imported steel and aluminum go into effect at midnight. After...

U.S. NAFTA demands “not viable” according to Mexican Economy Minister

2 Dec
Workers assemble a Fiat 500 in Toluca, MexicoThe Trump administration’s proposal to require 50 percent of the value of vehicles to be produced in the U.S. remains a hotly contested sticking point in ongoing NAFTA negotiations. Mexico’s Economy Minister, Idelfonso Guajardo, underscored that point in front of reporters on Wednesday, after emerging from several meetings with...