Part 2/11:
President Trump's renewed threats to impose a 25% tariff on imported steel and aluminum, particularly targeting imports from Mexico and Canada, have once again put pressure on automakers. With the U.S. being a major importer of steel from these neighboring countries — and sourcing about half of its aluminum from Canada alone — any tariffs would significantly escalate production costs across the automotive sector.
Despite the potential economic weight of these tariffs, it is essential to note that Trump had similarly imposed these duties during his first term but later lifted them as part of negotiations for the US MCA free trade deal. The timeline for the new tariffs remains unclear, leaving many industry stakeholders anxiously awaiting further developments.