US EditionGermany says 'nothing off table' in US tariff row
- On Wednesday, March 27, 2025, President Donald Trump announced new 25% tariffs on foreign-made cars, light trucks, and vehicle parts, impacting automakers both in the US and abroad.
- These tariffs stem from a broader trade strategy, with Trump stating his tariff enforcement would be permanent and boost America's manufacturing base, though analysts had published reports about potential consequences three weeks prior.
- The new levies, starting April 2, 2025, will primarily affect automakers importing vehicles and components, with South Korea's Hyundai, Germany's Volkswagen, and General Motors facing higher costs, while giving an edge to automakers sourcing parts in the US and exempting parts from Mexico and Canada under free-trade agreements.
- Following the announcement, investors sold off shares of carmakers in Japan, Germany, and the UK, with General Motors down more than 7%, and EU's Ursula von der Leyen expressing deep regret over the US auto tariffs, stating, "If the talks do not yield results, Europe can and will impose countermeasures."
- The automotive industry anticipates reduced choice and higher prices for consumers, with potential profit declines for companies like Toyota and Mazda ranging from 6% to 59%, and experts such as Jennifer Safavian noting that members of Autos Drive America were still working out the repercussions of the move and other tariffs.
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Red Wave PressJapanese Carmakers Face Catastrophic Profit Hit From Trump’s Auto Tariffs
(Zero Hedge)—As the fallout from Trump’s tariff plans comes into relief, a harsh truth is emerging for the automotive industry: there are lots of losers and not many winners. But foreign automakers, those without US facilities, will be hit especially hard. As Bloomberg notes, from South Korea’s Hyundai to Germany’s Volkswagen, and to a lesser extent America’s own General Motors, many of the world’s most prominent carmakers will soon face higher …
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