Trump’s tariffs could slash automaker profits by 17%
Analysts say import tariffs proposed by Donald Trump could spell financial disaster for automakers. Standard & Poor's estimates that European and U.S. companies could lose 17% of core profits. Trump has claimed that he will impose 25% tariffs on cars made in Mexico and Canada after taking office in January. Analysts warn that automakers around the world, including those in the United States, should brace for years of financial pain if incoming President Donald Trump follows through on his promise to introduce new import tariffs. var adpushup = window.adpushup = window.adpushup || {que:()}; adpushup.que.push(function() { if (adpushup.config.platform !== "DESKTOP"){ adpushup.triggerAd("0f7e3106 -c4d6-4db4-8135-c508879a76f8"); } else { adpushup.triggerAd("82503191-e1d1-435a-874f-9c78a2a54a2f"); Experts from S&P Global say European and U.S. auto companies could see their annual profits slashed by 17% due to possible tariffs on goods shipped to the U.S. from Mexico and Canada. Some brands' profits may fall by more than 20%. RELATED: Trump promises 25% tariffs on goods from Canada, Mexico on day one The…
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