Reported 1 day ago
U.S. President Donald Trump has enacted substantial tariffs of 25% on imports from Mexico and Canada, alongside a new 10% tariff on Chinese products, effective February 4. This move aims to curb fentanyl and immigration issues. With around 90% of auto exports from these countries heading to the U.S., major automakers, including Volkswagen, BMW, Ford, and Honda, have expressed concerns that these tariffs could inflate consumer prices and jeopardize production operations in Mexico and Canada.
Source: YAHOO