Industry

US President Donald Trump's recently imposed tariffs on Canadian and Mexican imports are expected to have significant repercussions, particularly in the automotive sector.

The global automotive industry is grappling with high tariffs that threaten its stability and the broader global economy. Economist Levin proposes a significant reduction in tariffs to foster competition, innovation, and a more prosperous and sustainable automotive industry worldwide.

Despite the impending ban on petrol-powered vehicles and potential tariff war, luxury supercars and white vans have been surprisingly exempted. Critics argue this as special treatment since supercars consume more fuel and white vans are essential for businesses.

Stellantis has temporarily halted its Windsor assembly operations for two weeks due to tariff-induced supply chain issues, impacting minivan production while the company commits to continuing employee pay during the shutdown.