Along with disrupting those supply lines, Trump’s tariffs would have increased the cost of the typical new car by more than $10,000, industry groups said. Ford CEO Jim Farley last month warned that the president’s tariffs “would blow a hole in the U.S. industry” and give Asian and European producers a distinct competitive advantage.
“We spoke with the big three auto dealers. We are going to give a one-month exemption on any autos coming through USMCA,” said Karoline Leavitt, White House press secretary, referring to the 2018 United States-Mexico-Canada Agreement.
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