Carmakers in Mexico panic over manic Trump tariff tweets
Mexico is the largest source of US car and car-parts imports, and tariffs will increase costs for virtually every major manufacturer
The automotive industry is bearing the brunt of trade-war crossfire again as US President Donald Trump threatened to slap tariffs of as much as 25% on goods from Mexico, a key production hub for carmakers from Mazda to General Motors (GM).
Mexico is the largest source of US vehicle and vehicle-parts imports, meaning tariffs would increase costs for virtually every major manufacturer. In late-night tweets on Thursday, Trump warned that tariffs would start at 5% on June 10 and increase to 25% on October 1 unless Mexico stops immigrants from entering the US illegally...