We're tracking several developments involving the Trump administration this week. Following talks with big three automakers, Ford, General Motors and Stellantis, President Donald Trump has given the auto industry a one-month exemption to tariffs on imports from Canada and Mexico.
Stellantis has told its U.S. dealers the 25% tariffs on products from Mexico and Canada will put the carmaker at a disadvantage against its Asian and European peers, an email sent to its retailers showed on Tuesday.
Jeep maker Stellantis told its U.S. dealers Tuesday that newly-imposed 25% tariffs on all products from Mexico and Canada will put its car brands at a competitive disadvantage against Asian and European automakers.
A possible 25 percent levy on goods from Canada and Mexico is likely to raise the prices consumers pay for new cars and trucks, and disrupt complex supply chains.
The announcement comes after Trump spoke with leaders of the "big 3" automakers, Ford, General Motors, and Stellantis on Wednesday.
Auto makers have been warning that Trump’s tariffs would increase the cost of manufacturing, auto parts, and car prices.
Stellantis thanks Trump for a one-month tariff exemption, gaining time to boost U.S. production amid declining sales and rising costs.
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