U.S. tariffs may increase price of insurance, parts, drive up auto thefts

cars on urban road

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 […]

U.S. import tariffs could mean smaller company, fewer jobs, says GM

General Motors

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 […]

Trump’s auto tariff plan threatens General Motor’s $7 billion South Korea rescue

General Motors

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 […]

Japan’s PM Shinzo Abe defends its automakers against U.S. import investigation

Shinzo Abe, Nazib Razak, Japan - Malaysia

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 […]

Car imports investigation gives General Motors, Ford shares small lift

general motors

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 […]

Worldwide automakers and suppliers call for more breaks in Trump tariff plan

Donald Trump

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 […]