Reactions are emerging following the U.S. announcement of a 25% import tax on foreign made cars.
The tariffs target approximately $217 billion in annual vehicle imports. The largest contributors are Mexico (23%), Japan (18%), South Korea (17%), and Canada (13%).
Mexico is seeking an exemption. Mexico’s Economy Minister Marcelo Ebrard said negotiations are ongoing to secure preferential treatment for Mexico’s auto industry.
Japan has called the measures damaging to its economic relationship with the U.S. Prime Minister Shigeru Ishiba questioned the logic of applying uniform tariffs to all countries, especially given Japan’s recent announcements of significant investment in the U.S. economy.
Canada plans to respond next week. Prime Minister Mark Carney stated that “nothing is off the table” in defending Canadian workers and businesses, signalling the end of the traditional U.S.–Canada economic relationship.
The tariffs target approximately $217 billion in annual vehicle imports. The largest contributors are Mexico (23%), Japan (18%), South Korea (17%), and Canada (13%).
Mexico is seeking an exemption. Mexico’s Economy Minister Marcelo Ebrard said negotiations are ongoing to secure preferential treatment for Mexico’s auto industry.
Japan has called the measures damaging to its economic relationship with the U.S. Prime Minister Shigeru Ishiba questioned the logic of applying uniform tariffs to all countries, especially given Japan’s recent announcements of significant investment in the U.S. economy.
Canada plans to respond next week. Prime Minister Mark Carney stated that “nothing is off the table” in defending Canadian workers and businesses, signalling the end of the traditional U.S.–Canada economic relationship.
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