No automaker will be truly immune from the effects of the tariffs, but some will be in a particularly bad spot.
President Trump says the tariffs will encourage investment in U.S. factories, but analysts say car buyers will have to pay thousands more.
The auto tariffs will be felt sharply in Europe, for whom the U.S. is the biggest export market for an industry that supports nearly 14 million jobs.
European automakers, already struggling with tepid economic growth at home and looming Chinese competition, on Thursday decried the U.S. import tax on cars as a new, heavy burden that would hurt compa
European stocks were set to drop after US President Donald Trump unveiled his plans for new tariffs on US trading partners worldwide, including a rate of 20% for the European Union.Contracts on the Euro Stoxx 50 were down 1.
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.
European automakers, already struggling with tepid economic growth at home and rising competition from China, on Thursday decried the U.S. import tax on cars as a heavy burden that will punish
One manufacturer told NBC News that she had managed to push the existing 45% duty on her products onto American customers.