Trump tariffs could prove nearly as harmful to U.S. auto market as Lehman collapse and COVID outbreak, warn S&P forecasters

Trump tariffs no match for 'gravitational pull' of U.S. market

OTTAWA — No matter where Donald Trump’s ever-changing tariff plans land in the coming days, economists and other trade specialists warn that Canada’s efforts to diversify from the United States market will be overwhelmed by the “gravitational pull” from our southern neighbour.

Tariffs will slam car sales and production, analysts say

President Trump's steep new tariffs on foreign cars could lead to a sharp decline in U.S. vehicle sales, according to S&P Global Mobility.

Trump tariffs could prove nearly as harmful to U.S. auto market as Lehman collapse and COVID outbreak, warn S&P forecasters

In “one of the largest single-month changes” ever made to its forecast, S&P Global Mobility wiped off 700,000 cars from its annual U.S. sales estimate.

Trump tariffs could hurt the car market almost as badly as COVID-19 and the 2008 crisis, S&P warns

The U.S. auto market might be in for a world of hurt due to President Donald Trump’s tariffs, according to a new report from S&P.Read more...

Trump’s tariffs would hit US carmakers the hardest

The automotive industry is in turmoil. The United States’ newly imposed tariffs are affecting every major producer. The so-called Big Three from Detroit are among the biggest losers.

How Trump's tariffs could wreak havoc on North America's auto supply chains

New vehicles are on display at a Ford dealership in Vancouver, British Columbia, Canada, on April 3, 2025.  NEW YORK |  Xinhua | Ford CEO Jim Farley warned at a recent investor conference in New York that levying steep tariffs on imported goods “would blow a hole in the U.S. industry that we’ve never seen.” For years, the U.S. auto supply chains have been deeply integrated with its two neighboring countries. Before a car is assembled, its parts …