The U.S. auto industry is preparing for the impact of new trade policies, including 25 percent tariffs, set to take effect in April after a 30-day delay.
The new tariffs pose a significant challenge for the "big three" U.S. automakers—Ford, Stellantis, and General Motors. With many vehicles and auto parts crossing the U.S.-Canada-Mexico border multiple times, the tariffs could dramatically increase costs for cross-border traffic.
While the full impact of the tariffs may take time to unfold, experts warn the fallout could be felt across various industries in Michigan. A recent study by Fitch Ratings highlighted that Michigan's economy would likely be the hardest hit in the U.S., with 19 percent of its imports coming from Canada, Mexico, and China.
Read next
22:00
US expansion
In response to President Donald Trump's sweeping new tariffs, a number of global companies are eyeing expansion into the United States to minimize the economic fallout from the trade measures.
21:30
US-Iran nuclear talks
Russian Foreign Minister Sergey Lavrov extended Moscow’s support for the ongoing indirect nuclear talks between the United States and Iran, offering to mediate or assist in any way that would be beneficial to Tehran and acceptable to Washington.
20:30
Japan
Japanese Finance Minister Katsunobu Kato strongly denied accusations that Japan manipulates its currency to weaken the yen, ahead of a highly anticipated meeting with U.S. Treasury Secretary Scott Bessent next week. Kato addressed the issue in the Japanese parliament on Friday, reaffirming that Jap
22:30
US
The number of Americans filing first-time unemployment claims decreased by 9,000 last week, falling to 215,000, according to data from the US Labor Department released on Thursday.
21:30
US-Japan trade dispute
U.S. President Donald Trump's desire to influence the yen's exchange rate in the ongoing trade negotiations with Japan is likely to create challenges for both nations, analysts warned.
What is your opinion on this topic?
Leave the first comment