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#autoindustry

2 posts2 participants0 posts today
Continued thread
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ˈdälfən™🐬 💥 🌊

/4 🧵

#MyThoughts (cont.)

US-based auto makers & suppliers will be hit very hard by extreme #tariffs . Some might even fail unless subsidized by the US gov’t. After all, Rome wasn’t built in a day, and it takes time to shift supply chains and manufacturing methods.

Interestingly, though, #Tesla stands to benefit over its competitors.

~ Tesla stands strong amid Trump's auto tariffs, emphasizes US supply chain strength ~

#USA #trump #AutoIndustry #economics

usatoday.com/story/money/busin

Reuters · Tesla stands strong amid Trump's auto tariffs, emphasizes US supply chain strengthAs the global auto world reeled from the potential fallout of Trump's new auto tariffs, one name stood out as less affected than others.
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ˈdälfən™🐬 💥 🌊

Trump warned US-based automobile manufacturers not to raise prices when his substantial auto-industry tariffs go into effect, leaving car makers fearing retribution.

Those automakers and industry suppliers (particularly in Detroit) have made clear there is little they can do BUT raise prices in the face of #tariffs.

Bringing more factories back to the U. S.— a tenet of Trump's tariff strategy— can take years to make happen.

#USA #Trump #AutoIndustry

/1 🧵

wsj.com/business/autos/trump-t

Trump Warned U.S. Automakers Not to Raise Prices in Response to Tariffs Threat came in a call earlier this month, in which carmakers feared punishment if prices go up https://www.wsj.com/business/autos/trump-tariffs-automaker-prices-warning-928bc7a9 Accessed: 27 March 2025 at 1930 PST
When President Trump convened CEOs of some of the country's top automakers for a call earlier this month, he issued a warn- ing: They better not raise car prices because of tariffs. Trump told the executives that the White House would look unfavorably on such a move, leaving some of them rattled and worried they would face punishment if they increased prices, people with knowl- edge of the call said. Instead, Trump said, they should be grateful for his elimination of what he called former President Joe Biden's electric- vehicle mandate, which involved subsidies and emissions requirements to encourage electric-car production. He made a lengthy pitch for how they would actually benefit from tariffs, two people on the call said, adding that he was bringing manufacturing back to the U.S. and was better for their industry than previous presidents. https://www.wsj.com/business/autos/trump-tariffs-automaker-prices-warning-928bc7a9 Accessed: 27 March 2025 at 1930 PST
The tariffs would be "great," Trump said, according to one of the people. On Wednesday, Trump announced a 25% tariff on all imported vehicles and parts starting April 2, a move almost certain to force American carmakers to raise prices on customers. Most automakers depend on parts and materials from other coun- tries to make cars, including vehicles assembled in the U.S. "You're going to see prices going down, but going to go down specifically because they're going to buy what we're doing, incentivizing companies to-and even countries-companies to come into Amer- ica," he said at the event. https://www.wsj.com/business/autos/trump-tariffs-automaker-prices-warning-928bc7a9 Accessed: 27 March 2025 at 1930 PST
Trump's relationship with automakers since taking office has been a rocky one, illustrating one of the challenges so far to his economic orthodoxy. The president is trying to curb inflation-voters' cost-of- living concerns helped fuel his 2024 vic- tory and are now one of his top vulnerabil- ities, experts say —while imposing tariffs on industries such as auto manufacturing that he says will remake the U.S. trade order. Detroit's automakers and industry suppliers in particular have made clear there is little they can do but raise prices in the face of tariffs. Bringing more factories back to the U. S.— a tenet of Trump's tariff strategy-can take years for car companies to make happen. "Tariffs, at any level, cannot be offset or absorbed," Ray Scott, chief executive of parts supplier Lear, wrote in an email Tuesday to employees that was viewed by The Wall Street Journal. "A holistic, industrywide approach will be necessary to mitigate the impact." https://www.wsj.com/business/autos/trump-tariffs-automaker-prices-warning-928bc7a9 Accessed: 27 March 2025 at 1930 PST
Public
CBC Canada

U.S. auto tariffs may be less severe than initially thought, says Doug Ford
The Ontario premier says U.S. Commerce Secretary Howard Lutnick has told him that President Donald Trump's impending tariffs on the auto industry may not apply to all finished cars coming into the United States from Canada.
#trade #politics #tariffs #autoindustry #US #Canada
cbc.ca/news/canada/toronto/us-

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