Automakers can respond to President Trump’s new 25 percent tariffs on imported cars and parts in several ways. But all of them cost money and will lead to higher car prices, analysts say. Manufacturers can try to move production from countries like Mexico to the United States. They can try to increase the number of…
President Trump and his supporters have clashed with mainstream economists for years about the merits of tariffs. Now, the world will get to see who is right, as the president’s sweeping levies on automobiles and auto parts play out in a real-time experiment on the global economy. In Mr. Trump’s telling, tariffs have a straightforward…
The tariffs on cars and auto parts that President Trump announced on Wednesday will have far-reaching effects on automakers in the United States and abroad. But there will be important differences based on the circumstances of each company. Tesla The company run by Mr. Trump’s confidant, Elon Musk, makes the cars it sells in the…
Photo: Michael M. Santiago (Getty Images) Stocks fell Thursday morning after President Donald Trump imposed 25% tariffs on imported autos Wednesday evening and European equities declined. The S&P 500 declined 0.6%, the Nasdaq Composite slid 0.8% and the Dow Jones Industrial Average lost 257 points, or 0.6%. General Motors (GM) stock plunged more than 8%,…
Tesla could be a winner from the auto tariffs announced by President Trump on Wednesday — or at least suffer less than its competitors. Tesla, whose chief executive, Elon Musk, has taken a leading role in the Trump administration, makes all the cars that it sells in the United States in California and Texas. That…
Benzinga | Detroit Free Press Wall Street remained on edge as investors adopted a cautious stance amid an increasingly uncertain economic outlook this past week. At its March meeting, the Federal Reserve kept interest rates unchanged at 4.25%-4.50%, signaling “no rush” to adjust its monetary policy. Yet, the central bank’s latest economic projections painted a…
Uptick in Tesla vandalism amid DOGE backlash Elon Musk’s Teslas are being vandalized at a higher rate as he faces backlash for federal cuts and firings. WASHINGTON – Donald Trump liked the shiny red car. “I want the same color,” he said, pointing to a Tesla Model S, before slipping into the driver’s seat. The…
Want to comment on this story? Become a subscriber today. Click here. New York – The U.S. stock market is holding steadier on Wednesday, for now at least, following the sharp tumble that wiped out the last of the “Trump bump” it received following the presidential election in November. The S&P 500 was basically unchanged…
By Kalea Hall DETROIT (Reuters) – General Motors has spent billions over decades trying to blaze an electric trail, releasing pioneering EVs and hybrids that ultimately failed to achieve mass-market sales before being scrapped. This time might be different. Last year, the U.S. auto-sales leader boosted electric vehicle sales and seized market share from the…
Almost all automakers are going to feel a pinch from the new tariffs imposed by President Trump on Saturday on goods imported from Canada, Mexico and China. Auto manufacturers ship tens of billions of dollars worth of finished automobiles, engines, transmissions and other components each week across the U.S. borders with Canada and Mexico. Billions…