AUTOMAKERS TARIFF DISCUSSIONS
US weighs tougher auto import rules to accelerate reshoring
The Donald Trump administration is considering changes to North American trade rules that could raise tariffs on imported vehicles and push automakers to increase US-based production.
Mahindra eyes South Africa expansion as China rivals gain ground
Mahindra & Mahindra is reportedly in advanced talks to upgrade its South African plant, potentially introducing completely knocked-down (CKD) production. This move aims to capitalize on rising demand for affordable vehicles and sidestep potential import tariffs, enhancing local manufacturing capabilities and competition in the South African market.
US rejects aluminum tariff relief request from Ford, WSJ reports
The U.S. government has rejected requests from Ford Motor and other automakers for relief from aluminum tariffs, despite supply disruptions caused by fires at Novelis’ Oswego plant in New York, according to a Wall Street Journal report.
Trump's China visit likely won't yield breakthrough, aims to maintain stability
China expresses frustration over the U.S. administration's last-minute planning for President Trump's upcoming visit. While a potential Boeing jet purchase agreement is on the table, a broader reset of business ties is unlikely, with USTR reluctant to include a CEO delegation to focus on "managed trade."
EU leaders meet to chart economic path amid China rivalry, US uncertainty
European Union leaders are meeting to discuss how to boost their economy. They face challenges from China and the United States. The bloc needs to improve its productivity and innovation. Leaders will brainstorm solutions to strengthen the EU's position in the global market. This meeting aims to address economic pressures and secure the EU's future.
Emmanuel Macron flags fresh tensions with US, calls on EU to seize ‘Greenland moment’
European Union leaders will meet this week. French President Emmanuel Macron warns of more U.S. hostility. He urges reforms to boost Europe's global standing. Macron believes the Trump administration is anti-European. He anticipates future U.S. actions on digital regulation. Europe needs to be resilient against U.S. and China challenges. Macron calls for common borrowing for investment.
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Ford and Geely in talks for manufacturing, technology partnership, sources say
The companies are in talks to have Geely use Ford factory space in Europe to produce vehicles for the region, three people familiar with the matter said. They also have discussed the potential framework for shared vehicle technologies, including for automated driving, according to two different people with knowledge of the talks.
Porsche mulls cutting electric sports cars to rein in budget
Porsche AG may halt its electric sports car plans. Development delays and rising expenses are key concerns.
BYD weighs India expansion as hundreds of car orders pile up
Chinese automaker BYD is exploring local assembly in India to meet high demand for its electric vehicles. The company is seeking regulatory approvals for more models due to import quotas. This move follows visits by BYD executives and aims to overcome import barriers. BYD's India sales surged last year, showing the market's potential and regulatory challenges.
Hyundai Motor warns of bigger hit from US tariffs after Q2 profit fall
Hyundai Motor saw a dip in profits for the second quarter. This is because of the US tariffs on vehicles and parts. The company anticipates a bigger impact in the current quarter. South Korean officials are under pressure to strike a trade deal. This comes after Washington and Tokyo reached an agreement. The agreement will cut tariffs on Japanese rivals.
European auto shares rally after US-Japan trade deal
Shares in major European carmakers rose on Wednesday, tracking a steep rally in some of their Asian rivals, after Tokyo struck a trade deal with the United States, fuelling optimism for a similar agreement with Europe.
US stocks end mixed; GM slumps as tariffs bite
Optimism about heavy spending on artificial intelligence has underpinned a rally in Wall Street's most valuable companies, with the S&P 500 trading around record highs.
Nissan to supply cars to Honda in US, Nikkei says
Nissan and Honda are in talks for a potential car supply deal in the United States. Nissan may manufacture Honda's pickup trucks at its Mississippi plant. This comes amid rising competition and trade negotiations. Earlier talks of a management integration between the two companies failed. Both companies are yet to comment on the ongoing discussions.
Japan's Nikkei ends lower on caution ahead of Trump tariff deadline
Nikkei in Japan closed lower on Monday. Investors were cautious about Trump's tariffs. They awaited details and impact on companies. Yaskawa Electric's shares fell due to profit forecast cut. Automakers like Toyota and Honda also declined. Nissan Motor discussed EV collaboration with Foxconn. SoftBank Group experienced a fall. Recruit Holdings provided support to the Nikkei.
Japan and US trade negotiators spoke again on Saturday, Japan govt says
Japan and the U.S. are actively exploring a trade agreement, as indicated by recent discussions between top negotiators. Ryosei Akazawa and Howard Lutnick held in-depth talks, aiming for a deal beneficial to both nations. These negotiations are occurring ahead of the meeting between Prime Minister Shigeru Ishiba and President Donald Trump at the G7 summit.
American car, made in Korea: Why General Motors is hurt by tariffs
General Motors faces tariff challenges. These tariffs impact earnings. Other automakers also face difficulties. Ford aims to offset costs. Experts note changing manufacturing locations. Tariffs may reduce affordable car options. The average new car price is already high. GM explores cost cuts and trade agreements. The company remains committed to its Korean operations. These operations are a global export base.
Trump says tariff talks with India 'going great', signs autos executive order amid industry concerns
President Trump expressed optimism about reaching a trade deal with India soon, despite previous tariff impositions. He temporarily suspended additional tariffs on Indian exports until July 9, signaling progress in ongoing discussions. Amid supply chain concerns, Trump also signed an autos executive order.
Mercedes CEO urges EU to find equitable solution to China-made EV tariff dispute
Mercedes-Benz CEO Ola Kallenius is urging the EU to find a fair solution regarding tariffs on Chinese-made EVs, cautioning against using tariffs as the primary tool. He emphasizes the importance of open competition for innovation, as the EU and China discuss potential price commitments to resolve the trade dispute.
Duty-wary automakers rush to White House to find workaround
Ford Motor, General Motors and Chrysler parent Stellantis NV are lobbying the administration to exclude certain low-cost car components from the planned tariffs, according to people familiar with the matter. Executives have met with the White House, the commerce department and the office of the US trade representative to discuss the exclusion, said the people.
Trump to announce pharma tariffs soon
President Donald Trump announced upcoming tariffs on the pharmaceutical industry, without elaborating on specifics. He also mentioned being open to negotiating deals with other countries after implementing reciprocal tariffs on April 2. Countries like Britain have already approached the U.S. for potential agreements.
'This is permanent': Donald Trump places 25% tariff on imported autos, expecting to raise USD 100 bn in tax revenues
Trump Auto Tariff: President Donald Trump announced a 25% tariff on auto imports to boost domestic manufacturing, projecting $100 billion revenue annually. While the tariffs aim to increase U.S. factory openings, they may elevate car prices and affect the global supply chain. Foreign leaders critically responded, and Trump hinted at an auto loan interest tax deduction for American-made vehicles.
Hyundai, Trump announce $21 billion US investment, new steel plant
Hyundai Motor Group has announced a $21 billion investment in the U.S., including a new $5.8 billion steel plant in Louisiana and $9 billion to enhance domestic vehicle production by 2028. The company is also strengthening strategic partnerships in autonomous driving and advanced technologies while launching a $7.59 billion factory in Georgia.
Trudeau expects a trade war between Canada and the US for the 'foreseeable future'
Canadian Prime Minister Justin Trudeau expects a prolonged trade war with the U.S., following a constructive call with President Donald Trump. They discussed tariffs, with Trudeau reiterating that Canada will maintain its response tariffs until the U.S. lifts its unjustified tariffs on Canadian goods. Trump has already imposed tariffs on Mexican and Canadian imports.
How will the U.S. auto tariff pause reshape the industry? Is Europe more divided than ever over Ukraine? | Here are the top stories you need to know
Auto tariffs paused—what does this mean for the U.S. auto industry? The Trump administration has temporarily halted tariffs on vehicles imported from Canada and Mexico, providing relief to automakers like Ford, GM, and Stellantis. This decision impacts manufacturing costs, trade relations, and stock markets. However, the exemption lasts only until April 2, leaving uncertainty about future trade policies. Meanwhile, Europe discusses increased defense spending amid the Ukraine crisis. Will auto tariffs return? How will global trade be affected?
Trump exempts some automakers from Canada, Mexico tariffs for one month
President Donald Trump exempted automakers from 25% tariffs on Canada and Mexico for one month, contingent on compliance with existing trade rules. The move, aimed at easing trade tensions, led to a rebound in auto stocks but maintained pressure on both countries regarding fentanyl smuggling.
Trump tariff drama carries high stakes for US automakers, car buyers
Donald Trump has kept major automakers in suspense with threats of imposing 25% tariffs on vehicles from Mexico and Canada, potentially impacting U.S. consumers with price hikes. The uncertainty has created financial risks for automakers like GM, Volkswagen, and Ford. Automakers are concerned about increased costs but are unable to plan effectively amidst the shifting regulatory landscape.
China tells carmakers to pause investment in EU countries backing EV tariffs, sources say
China instructed its automakers to stop heavy investment in European countries supporting tariffs on Chinese electric vehicles. This follows new EU tariffs, dividing Europe and prompting Beijing to retaliate. Some countries, including France and Italy, sought investment despite these tensions. Chinese companies were also advised to avoid separate investment discussions with European governments.
China and European Union agree to talks in bid to head off trade war
China and the European Union have decided to initiate talks aimed at resolving an increasingly tense tariff dispute, with billions of dollars in trade hanging in the balance. According to the Chinese Commerce Ministry, discussions will be held between China's commerce minister, Wang Wentao, and the European Union's trade commissioner, Valdis Dombrovskis. The focus will be on addressing the European Union's proposal to impose tariffs on electric cars imported from China, a move that has sparked significant concern.
United States weighs rise in tariffs on Chinese EVs
Chinese automobiles face a 25% levy imposed during the administration of former President Donald Trump and extended by the Biden administration.
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