A threat by the U.S. government to impose tariffs of up to 25 percent on imported vehicles parts could hit customers in unexpected ways: higher repair costs, insurance premiums and even the theft of more vehicles for their parts, the industry stated. U.S. President Donald Trump’s administration has started an investigation into whether auto imports
General Motors has warned that higher tariffs on imported automobiles under consideration by the Trump administration could cost jobs and result in “a smaller GM” while isolating U.S. businesses from the international market. The administration in May started an investigation into whether imported vehicles pose a national security threat, and U.S. President Donald Trump has
Ford Motor’s long-time top lobbyist is departing from the automaker to join SoftBank Group, which is ramping up its Washington efforts, the companies stated on Friday. Ziad Ojakli, a Ford group vice president who is heading the Detroit automaker’s government relations strategy for 14 years and was a White House aide under President George W.
General Motors CEO Mary Barra stated on Tuesday the No. 1 U.S. automaker at present has no projects underway with ride-sharing company Lyft, where it is holding 9 percent stake. Competing automaker Ford Motor stated last year it will work with Lyft to deploy large amount of Ford self-driving vehicles on Lyft’s network by 2021.
Fresh off a $7 billion rescue for its loss-making South Korean operation, General Motors is dealing with a new threat as U.S. President Donald Trump thinks about higher vehicle import tariffs that could “make or break” its Asian subsidiary. Previously this month GM agreed on the bailout package with the South Korean government in return
Japanese Prime Minister Shinzo Abe stated on Monday he would like to convince President Donald Trump of the important role his country’s automakers play in increasing the U.S. economy. The Trump administration decided last week to start a national security investigation into auto imports that could result in new U.S. tariffs comparable to those imposed
Shares of General Motors and Ford Motor moved only marginally higher before the bell on Thursday following the Trump administration launch of a national security investigation into car imports which could result in new tariffs on foreign rivals while also stirring trade tensions. Washington stated on Wednesday it will open a so-called Section 232 investigation
Trump administration demands in NAFTA trade negotiations for pushing auto jobs back to the country may not be enough to spark a shift in where car manufacturers build cars and trucks. New math to determine what qualifies as vehicle content, what limits apply to permit tariff-free auto imports and how long companies would have to
French automaker and Peugeot-manufacturer PSA stated on Wednesday that it hoped the European Union would embrace a common stand on Iran, following U.S President Donald Trump’s decision to pull the U.S. out of a worldwide nuclear deal with Iran. “Like other economic players, we are following the evolution of the matter, and are also adhering
The union finds the deal to be ‘humiliating’ Hyundai Motor’s South Korean labor union on Tuesday regarded Seoul’s modified free trade deal with the United States “humiliating”, and stated the extended tariffs on pick-up trucks indicate a missed opportunity to tap into the U.S. industry. The United States and South Korea agreed to modify a
Worldwide automakers and vehicle suppliers are pushing the Trump administration and U.S. Congress to exempt the European Union and other allies from new steel and aluminum tariffs set to work later on this month, industry officials stated on Friday. The proclamation President Donald Trump signed Thursday permits importers to seek exemptions for particular items and
South Korea’s Hyundai Motor is going to pay higher raw material costs because of U.S. President Donald Trump’s tariffs on steel and aluminum, a senior South Korean government official stated on Friday. “Higher tariffs will raise costs of Hyundai and Kia, putting them at a disadvantage compared with their competitors in the United States,” the
From a hotel in Mexico City, Ann Wilson, a senior executive at the United States Motor and Equipment Manufacturers Association (MEMA), is fielding calls from American auto parts makers worried that President Donald Trump’s metal tariffs will force them out of business. Wilson came to Mexico with a different task – to lobby NAFTA trade
U.S. President Donald Trump has used a decision by General Motors to close one of its four plants in South Korea to introduce fresh criticism of the U.S.-South Korea trade agreement. Trump described GM’s announcement that it would close a vehicle factory in South Korea, and then turned to the topic of the U.S.-South Korea
Global automakers on Monday prompted the Trump administration not to end the North American Free Trade Agreement and revealed hope the United States, Canada and Mexico can successfully conclude a modernized and enhanced trade pact. Fiat Chrysler Automobiles (FCA) CEO Sergio Marchionne, who announced recently plans to move heavy pickup truck production from Mexico to