On March 5, the White House said it would allow a one-month tariff exemption for cars imported from Canada and Mexico.
 |
| Trump's new move on Canadian and Mexican cars. (Source: Getty Images) |
The information was released after the high 25% tariffs imposed by President Donald Trump's administration on the two countries took effect.
In a statement, Press Secretary Karoline Leavitt said that US officials have told major automakers including Stellantis, Ford and General Motors that Washington will waive tariffs for one month on any cars exported through the US-Mexico-Canada Free Trade Agreement (USMCA).
Immediately after the announcement, shares of the above car companies increased, of which General Motors increased by 5.3% and Ford increased by 4.1%.
A source familiar with the discussions said President Trump could also eliminate the 10% tariff on energy imports from Canada, such as crude oil and gasoline, that are subject to USMCA rules of origin.
The announcement came after a high-level US-Canada phone call in which President Trump told Prime Minister Justin Trudeau that the northern neighbor was not doing enough to stop fentanyl trafficking.
On the Truth Social platform, he noted that the call ended in a "fairly" friendly manner.
According to data from S&P Global Mobility, Canadian auto plants produced 1.3 million vehicles in 2024, while Mexican plants produced 4 million vehicles.
About 70% of those vehicles were sold at US dealerships to US customers. Auto plants in the world's largest economy produced 10.2 million vehicles during the same period.
Source: https://baoquocte.vn/after-dien-dam-cung-thu-tuong-justin-trudeau-ong-trump-co-dong-thai-bat-ngo-voi-o-to-canada-va-mexico-306536.html
Comment (0)