{"id":1049825,"date":"2024-11-26T17:58:45","date_gmt":"2024-11-26T22:58:45","guid":{"rendered":"https:\/\/democrats.org\/?p=1049825"},"modified":"2024-11-26T17:58:46","modified_gmt":"2024-11-26T22:58:46","slug":"icymi-trumps-taxes-would-be-a-disaster-for-americas-auto-industry","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/icymi-trumps-taxes-would-be-a-disaster-for-americas-auto-industry\/","title":{"rendered":"ICYMI: Trump\u2019s Taxes Would Be a \u201cDisaster\u201d for America\u2019s Auto Industry"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" height=\"341\" width=\"1024\" src=\"https:\/\/democrats.org\/wp-content\/uploads\/2024\/05\/War-Room-Master-Image.png?w=1024\" alt=\"\" class=\"wp-image-1031397\" srcset=\"https:\/\/democrats.org\/wp-content\/uploads\/2024\/05\/War-Room-Master-Image.png 1500w, https:\/\/democrats.org\/wp-content\/uploads\/2024\/05\/War-Room-Master-Image.png?resize=300,100 300w, https:\/\/democrats.org\/wp-content\/uploads\/2024\/05\/War-Room-Master-Image.png?resize=768,256 768w, https:\/\/democrats.org\/wp-content\/uploads\/2024\/05\/War-Room-Master-Image.png?resize=1024,341 1024w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><strong>Key Point:<\/strong> \u201cPresident-elect Donald J. Trump\u2019s threat to impose 25 percent tariffs on goods from Mexico and Canada sent shivers on Tuesday through the auto industry, which depends heavily on both countries for parts and manufacturing.\u201d<\/p>\n\n\n\n<p><a href=\"https:\/\/www.nytimes.com\/2024\/11\/26\/business\/trump-tariffs-mexico-canada-cars.html\"><strong>New York Times<\/strong><\/a><strong>: Trump\u2019s Tariffs Would Deal a Big Blow to the Auto Industry<\/strong><\/p>\n\n\n\n<p>By: Jack Ewing and Neal E. Boudette<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>President-elect Donald J. Trump\u2019s threat to impose 25 percent tariffs on goods from Mexico and Canada sent shivers on Tuesday through the auto industry, which depends heavily on both countries for parts and manufacturing.<\/strong><\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>The prospect of tariffs \u201cis a two-alarm fire for the auto industry,\u201d said Patrick Anderson, chief executive of Anderson Economic Group, a consulting firm in Michigan. \u201cThere is probably not a single assembly plant in Michigan, Ohio, Illinois and Texas that would not immediately be affected by a 25 percent tariff.\u201d<\/strong><\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The list of popular vehicles made in Mexico or Canada is long. It includes Ram pickups made by Stellantis in Saltillo, Mexico, and Chrysler minivans built in Windsor, Ontario. General Motors makes Chevrolet Silverado pickups and electric versions of Equinox and Blazer S.U.V.s in Mexico, where Ford also makes its Maverick pickup.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>All of those vehicles and many others would become significantly more expensive <\/strong>if Mr. Trump, who won the state of Michigan with promises to preserve auto jobs, followed through on his threat.<strong> Those higher auto prices would have a significant effect on overall inflation.<\/strong><\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Wall Street was clearly alarmed. <\/strong>G.M.\u2019s stock was down about 8 percent on Tuesday morning after Mr. Trump\u2019s statement on tariffs. Stellantis, the owner of Ram, Jeep and Chrysler, fell about 5 percent, and Ford was down 2 percent.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Tariffs \u201cwould spell disaster for the U.S. auto industry,\u201d <\/strong>analysts at Bernstein said in a note to investors.\u00a0<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Point: \u201cPresident-elect Donald J. Trump\u2019s threat to impose 25 percent tariffs on goods from Mexico and Canada sent shivers on Tuesday through the auto industry, which depends heavily on both countries for parts and manufacturing.\u201d New York Times: Trump\u2019s Tariffs Would Deal a Big Blow to the Auto Industry By: Jack Ewing and Neal [&hellip;]<\/p>\n","protected":false},"author":297,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1049825","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>ICYMI: Trump\u2019s Taxes Would Be a \u201cDisaster\u201d for America\u2019s Auto Industry - Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/democrats.org\/news\/icymi-trumps-taxes-would-be-a-disaster-for-americas-auto-industry\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:site_name\" content=\"Democrats\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-26T22:58:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-26T22:58:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/democrats.org\/wp-content\/uploads\/2024\/05\/War-Room-Master-Image.png?w=1024\" \/>\n<meta name=\"author\" content=\"Kate Sosland\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kate Sosland\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/icymi-trumps-taxes-would-be-a-disaster-for-americas-auto-industry\/\",\"url\":\"https:\/\/democrats.org\/news\/icymi-trumps-taxes-would-be-a-disaster-for-americas-auto-industry\/\",\"name\":\"ICYMI: Trump\u2019s Taxes Would Be a \u201cDisaster\u201d for America\u2019s Auto Industry - 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