Overview

• Trump warned that the existing 25 percent auto tariff could be raised soon to incentivize automakers to build plants in the United States.
• He highlighted recent investment announcements, including GM’s $4 billion commitment to three U.S. plants and Hyundai’s $21 billion U.S. investment.
• Automakers have pressed the administration to roll back the 25 percent duties after disclosing up to $5 billion in tariff exposure.
• Ford Motor and Subaru of America have already raised prices on select models as costs from the current levies bite into margins.
• Mexico secured a reduced 15 percent rate for cars assembled there under U.S. content rules, while South Korea is facing setbacks to its auto exports.