Trump tariffs, hitting auto manufacturers directly, could be a 'boomerang' for American consumers.

November 27, 2024, 11:33 AM GMT+9 (partial excerpt).

President-elect Trump's plan to impose a 25% tariff on all imports from Mexico and Canada could squeeze the profits of US auto manufacturers, particularly General Motors (GM.N), leading to potential price increases for SUVs and pickup trucks, impacting American consumers.
GM is the leading auto manufacturer exporting automobiles from Mexico to North America. According to the Mexican Automobile Industry Association, the top 10 auto manufacturers with factories in Mexico produced a total of 1.4 million units in the first half of this year, with 90% of them exported to the USA.
Other manufacturers based in Detroit, USA, are also likely to be in a difficult situation. Ford Motor Co (F.N) and Stellantis (STLAM.MI) are among the top production numbers in Mexico among European and American manufacturers, and their stock prices declined the day after Trump announced tariffs on the 26th.
According to global data analyzing market trends, GM is expected to import over 750,000 vehicles from Canada or Mexico this year, with the majority being from Mexico. This includes popular models such as the Chevrolet Silverado, GMC Sierra full-size pickup trucks, and mid-size SUVs.