General Motors is abandoning a previous forecast for solid profit growth this year as a result of the uncertainty created by President Trump’s trade policies, the automaker said on Tuesday. The Trump administration imposed a 25 percent tariffs on imported cars this month and has said it will impose a 25 percent duty on imported…
The line fell silent. In a phone call from the Oval Office, President Trump had just delivered unwelcome news to three of America’s most powerful auto executives: Mary Barra of General Motors, John Elkann of Stellantis and Jim Farley of Ford. Everyone needs to buckle up, Mr. Trump said on the call, which took place…
Almost all automakers are going to feel a pinch from the new tariffs imposed by President Trump on Saturday on goods imported from Canada, Mexico and China. Auto manufacturers ship tens of billions of dollars worth of finished automobiles, engines, transmissions and other components each week across the U.S. borders with Canada and Mexico. Billions…
General Motors executives are closely tracking President Trump’s plans to impose tariffs on imports from Canada and Mexico, but the company is not yet making any major changes to its strategy in North America. The automaker has pulled together an “extensive playbook” of possible options but won’t put them in place “until the world changes…
If President Trump has his way, the auto industry’s transition to electric vehicles will soon slam into reverse. He will erase tax credits for electric-vehicle purchases, federal grants for chargers, and subsidies and loans to help retool assembly lines and build battery factories. Executive orders issued by Mr. Trump on Inauguration Day amount to a…