Trump gives Big 3 automakers one month reprieve for Canada, Mexico tariffs

President Donald Trump has delayed tariffs on automobile imports from Canada and Mexico for one month after requests from executives at the Big Three automakers — General Motors, Ford, and Stellantis — according to Politico. The reprieve comes less than two days after Trump issued 25% tariffs on all goods from the U.S.’s neighbors, which had previously been duty-free under a North American trade agreement (sometimes characterized as NAFTA 2,0) negotiated during his first term. The automakers have complex supply chains and operate several manufacturing facilities in Mexico and Canada. For example, GM produces its Chevy Equinox in Mexico and Canada, and both Ford’s Lincoln Nautilus SUVs and Stellantis’s Dodge Chargers are made in Ontario. Multiple automotive suppliers also have factories in the two countries. Car prices are already at historic highs, and the tariffs threaten to send sticker prices skyrocketing by as much as $12,000, according to Jeff Schott, senior fellow at the Peter ... Read full article.