Automakers Brace for Higher Costs, Supply Shortages Amid Trump Tariffs

Benzinga

The auto industry faces fresh turmoil as President Trump's 25% tariffs on Canadian and Mexican imports take effect. Automakers are already grappling with technological shifts and regulatory challenges.

Transcript

00:00It's Benzinga bringing Wall Street to Main Street.

00:02Auto industry faces fresh turmoil as President Trump's 25% tariffs on Canadian and Mexican

00:07imports take effect. Automakers are already grappling with technological shifts and regulatory

00:12challenges. They now face supply chain disruptions reminiscent of the COVID-era chip shortage.

00:17The tariffs are expected to cause imminent surge in vehicle prices and supply shortages,

00:22with S&P Global Mobility predicting a daily production drop of 30% of North American

00:27output. Analysts warn the tariffs' full impact hinges on their duration,

00:31with long-term stability remaining uncertain.

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