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Global car industry in firing line of Trump's tariff threats vs Mexico, Canada

  • U.S. President Donald Trump plans to impose a 25% tariff on goods from Canada and Mexico starting February 1, 2025, fulfilling a campaign promise.
  • The tariffs could lead to a 4.1% drop in GDP for both Canada and Mexico, as three-quarters of their exports go to the U.S.
  • Canadian Prime Minister Justin Trudeau faces political instability as he prepares to be replaced, impacting the response to the tariffs.
  • Mexico's President Claudia Sheinbaum stated, 'We don't think it's going to happen really,' regarding the tariffs and mentioned having a plan if they do.
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