Trump imposing 10% and 25% import tariffs on Chinese and Mexican goods respectively
Making good on his earlier promise to impose levies on Chinese, Canadian and Mexican-produced goods entering the USA, President Donald Trump announced over the weekend of 1-2 February that he is indeed implementing tariffs of 10 per cent on Chinese goods and 25 per cent on good coming from Canada and Mexico effective 4 February 2025. That news was followed up with suggestions of further tariffs against the European Union “soon”. The combination of the two actions sent European share prices downwards, with automotive industry shares particularly affected. Here we take a look at how the tariffs might affect vehicle makers and those that supply them.