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Auto industry braces for a blow from 25% tariffs on Canada and Mexico
The White House describes the tariffs as a response to inadequate border and drug enforcement. They are forecast to add thousands of dollars to the price of vehicles.
toggle caption Guillermo Arias/AFP via Getty Images As President Trump's once-postponed 25% tariffs on Canada and Mexico are poised to transition from a threat to a reality, the auto industry is preparing for higher costs and an extraordinary disruption to their North American supply chains. But multiple analysts still anticipate that consumers will see car prices rise; thousands of dollars in additional production costs overnight are just too hard to avoid, even with savvy management. "While Canada and Mexico have sought to find a diplomatic solution to the White House's demands regarding undocumented migration and fentanyl trafficking, both countries are likely to retaliate in kind even if they stand more to lose economically," he said in an emailed statement.
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