Both Detroit automakers reported upbeat Q1 sales as customers rushed to grab deals before the Trump's 25% tariffs on imported vehicles hit.
In messages obtained by the Free Press, GM and Ford outline impact of tariffs to the workforce and plans to address the issue.
One big loser in President Donald Trump’s escalating trade war is likely to be the U.S. electric vehicle industry.
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Barchart on MSNTrump’s Tariffs End GM’s Joyride: Is General Motors Stock a Buy or Sell Ahead of ‘Liberation Day’?President Donald Trump announced a 25% tariff on vehicle imports. These tariffs will take effect on April 3, a day after what the president has described as “liberation day,” when he is scheduled to announce his reciprocal tariffs.
Automakers including General Motors Co. and Hyundai Motor Co. reported higher US auto sales as the threat of price hikes from President Donald Trump’s tariffs drove consumers to showrooms.GM’s deliveries soared 17% in the first quarter,
Get all the news you need in your inbox each morning. “You’d start with all countries,” Trump told reporters Sunday night aboard Air Force One. “There’s not a cutoff.” Trump’s remarks provided clarification on the scope of the tariffs after Treasury Secretary Scott Bessent recently said the 15% of nations with persistent trade imbalances with the U.