Donald Trump imposes 25% tariff on Canada, Mexico; 10% on China – auto sector braces for price hike

APMA
Feb 19
1 min read

Gerard Lye, Paul Tan

February 3, 2025

According to a Bloomberg report, Trump’s tariffs against Canada and Mexico will cause vehicle prices to increase even further. “The auto sector is going to shut down within a week. At 25%, absolutely nobody in our business is profitable by a long shot,” said Flavio Volpe, president of Canada’s Automotive Parts Manufacturers’ Association.

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