Two Michigan business groups urged President Donald Trump to halt plans to impose sweeping 25% tariffs on imported vehicles and parts, saying it would lead to dramatic price hikes, supply chain disruptions and pain in the auto-heavy state.
The introduction of tariffs on foreign-made cars in the US by president Donald Trump will cause “pure chaos” for the global auto industry, analysts at Wedbush have warned. More details on Trump's auto tariffs are expected this week.
Stellantis will buy credits from a "pool" led by Tesla also in 2025, to meet European Union's CO2 reduction requirements, despite Brussels giving carmakers three years to comply, the group's Europe head said on Saturday.
A group representing General Motors Toyota , Volkswagen and other major automakers warned new 25% tariffs President Donald Trump plans to impose next week on imported vehicles will hurt U.S. consumers.
Shares in foreign and domestic car companies are down since yesterday's market close after President Donald Trump announced his latest round of tariffs on Wednesday. Those tariffs include a 25% levy on automobiles imported into the United States.
John Elkann, the chairman of Stellantis , voiced concerns on Thursday over the impact of 25% U.S. tariffs imposed on the carmaking sector on the cost of vehicles and demand.
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