Automotive Tariffs Impact US Imports

This is a US news story, published by Yahoo Finance, that relates primarily to GlobalData news.

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GlobalData

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Technology

GlobalData reduces US light vehicle sales outlook following tariff announcements

Summary

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83% Informative

GlobalData has carried out detailed analysis on the likely impact of tariffs on automotive imports to the US , including finished vehicles and automotive parts.

As of April 3rd , 25% tariffs are in effect on imports of finished vehicles.

For vehicles from Canada and Mexico that are compliant with the USMCA trade agreement rules, they are subject to taxes only on their non-US content.

25% tariff on steel and aluminum imports are also in effect.

Japan and Korean -built vehicles account for around 17% of US LV Sales.

European LV output could be negatively affected by an annual average of 120k , Japanese and Korean volumes could slip by 260k and 230k .

Risks are elevated: a global trade war is probably now already underway and the dynamic impact upon supply chains, geographical sourcing patterns and, indeed, world economic growth is set to emerge.

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semi-formal

Language

English

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not offensive

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not hateful