The auto industry is now dealing with the Trump Administration's steep new tariffs on auto imports. A WNY UAW leader said he supports bringing manufacturing back to the U.S.
Shawn Fain stressed that there is an “excess capacity” in the auto industry within the United States amid President Trump’s tariffs and layoffs at certain manufacturers.
The auto industry now dealing with the Trump Administration's steep new tariffs on auto imports. Vehicles shipped into the U.S. are subject to 25 percent tariffs before they hit the dealership.
U.S. President Donald Trump's announcement of a 25% tariff on auto imports rippled throughout the world on Thursday, as global carmakers warned of immediate price hikes and dealers raised fears of job losses in big auto-exporting countries,
An American Compass analysis attributes the quotas to an 8% increase in the cost of vehicles, more than 100,000 new U.S. jobs, eight new auto assembly plants, 300 new production facilities and more than $25 billon in foreign investment.
The recent tariff war is expected to have minimal impact on the Indian automobile industry due to limited exports to the US. Automobiles are exempt from new tariffs, while the ongoing US-India trade talks aim for a balanced resolution benefiting both economies.
During his first term in office, Trump started trade wars with key US trading partners like Canada, the European Union, and China. Upon his return in 2025, more trade wars have been the name of the game.
The president said he would go ahead with auto tariffs industry officials say could decimate Michigan's signature industry, as well as other taxes.