A coalition of General Motors, Ford, and Stellantis criticized President Trump's recent trade agreement with the UK, arguing it negatively impacts the US auto industry. Under the deal, British carmakers are allowed to export up to 100,000 vehicles to the US at a 10% tariff, while USMCA-compliant vehicles from Mexico and Canada face 25% tariffs. This discrepancy could disadvantage US automakers and their supply chains. Concerns were raised about setting a precedent for future agreements that could harm North American manufacturing. Automakers like Ford and GM also project significant financial impacts due to current tariff structures.
Under this deal, it will now be cheaper to import a UK vehicle with very little US content than a USMCA compliant vehicle from Mexico or Canada that is half American parts.
This hurts American automakers, suppliers, and auto workers. We hope this preferential access for UK vehicles over North American ones does not set a precedent for future negotiations.
Trump last month softened the blow of his auto tariffs by easing the impact of tariffs on parts and materials but left in place 25% tariffs on imported vehicles.
Ford confirmed it hiked prices of some Mexican-built vehicles because of tariffs and said Trump's trade war would add about $2.5 billion in costs for 2025.
Collection
[
|
...
]