WASHINGTON (AP) — President Donald Trump on Monday suggested that he might temporarily exempt the auto industry from tariffs he previously imposed on the sector, to give carmakers time to adjust their supply chains. “I’m looking at something to help some of the car companies with it,” Trump told reporters gathered in the Oval Office….
With tariffs and economic uncertainty weighing on the automotive industry, dealers are navigating a fast-changing landscape. Tom Maoli, president and CEO of Celebrity Motor Car, joins us on the latest episode of Inside Automotive to discuss how the tariffs are affecting sales, why he believes the EV market is struggling, and what concerns him most…
WASHINGTON (AP) — Noted economist Arthur Laffer warns in a new analysis that President Donald Trump’s 25% tariffs on auto imports could add $4,711 to the cost of a vehicle, adding that the proposed taxes could weaken the ability of U.S. automakers to compete with their foreign counterparts. In the 21-page analysis obtained by The…
Chicago — Steve Walter’s family has been fixing cars on Chicago’s North Side for 70 years. “I’m fourth generation,” Walter said. “My grandfather worked on pre-war Italian race cars.” Walter’s mechanics replace metal more often than they repair it, so he’s bracing for the impact of President Trump’s newly announced 25% tariffs on all vehicles…
DETROIT (AP) — President Donald Trump’s 25% tariffs on autos not made in the U.S. and certain auto parts are sending more tremors through an industry already being pummeled by steel and aluminum import duties and on-again, off-again 25% levies on Canada and Mexico. The new tariffs, announced Wednesday, are likely to jack up new…
WASHINGTON (AP) — President Donald Trump said Wednesday he was placing 25% tariffs on auto imports, a move the White House claims would foster domestic manufacturing but could also put a financial squeeze on automakers that depend on global supply chains. “This will continue to spur growth,” Trump told reporters. “We’ll effectively be charging a…
President Trump on Wednesday said he will put a 25% tariff on automobiles and light trucks imported into the U.S., escalating his administration’s use of aggressive trade measures in an effort to boost domestic manufacturers. “This will continue to spur growth like you haven’t seen before,” Mr. Trump said from the Oval Office Wednesday afternoon….
Los Angeles — With a 25% tariff on imported vehicles and vehicle parts from Canada and Mexico set to take effect on April 2 as part of President Trump’s trade wars, car shoppers are unsure about whether to buy now or risk facing higher prices later. Even after 20 years of selling cars, general manager…
WASHINGTON (AP) — With Elon Musk facing escalating political blowback and financial troubles, President Donald Trump said he would buy a Tesla vehicle from his company, an unusual show of support from the president to his most powerful adviser. It was the latest example of how Trump has demonstrated loyalty to Musk, who spent heavily…
BYD, the Chinese electric vehicle giant, has rapidly grown into a dominant force in the automotive industry, challenging legacy automakers and rivaling Tesla in global EV sales. While Tesla is often viewed as its biggest competitor, BYD’s executive vice president, Stella Li, believes there is room for cooperation—at least in their shared mission to eliminate…