March 27 (Reuters) - U.S. President Donald Trump on Wednesday followed through on weeks of threats for new tariffs on imported cars, saying a 25% import tax on vehicles not built in the U.S. would kick in next week.
Nearly half of all cars sold in the U.S. last year were imported, according to industry data.
Below are companies and countries most vulnerable to the new tariffs.
PERCENTAGE OF CARS SOLD BY BRANDS IN U.S. THAT ARE IMPORTED
Jaguar Land Rover (Tata) TAMO.NS 100%
Geely (Volvo) GEELY.UL 90%
Mazda 7261.T 81%
Volkswagen VOWG_p.DE 80%
Hyundai/Kia 005380.KS, 000270.KS 65%
Mercedes-Benz MBGn.DE 63%
BMW BMWG.DE 52%
Toyota 7203.T 51%
GM GM.N 46%
Stellantis STLAM.MI 45%
Subaru 9778.T 45%
Honda 7267.T 35%
Ford F.N 21%
Tesla TSLA.O 0%
Source: Research firm GlobalData
TOP VEHICLE EXPORTING COUNTRIES TO THE U.S.
The U.S. imported $474 billion worth of automotive products in 2024, including passenger cars worth $220 billion.
Mexico, Japan, South Korea, Canada and Germany, all close U.S. allies, were the biggest suppliers.
Mexico exported 2.5 million vehicles in 2024, followed by South Korea with 1.4 million, Japan with 1.3 million and Canada with 1.1 million. Germany exported 430,000 vehicles and the UK shipped nearly 90,000 in 2024, according to S&P Global Mobility.
(Reporting by Miyoung KimEditing by Mark Potter)
((miyoung.kim@thomsonreuters.com; 65 6870 3026; Reuters Messaging: miyoung.kim.thomsonreuters.com@reuters.net))
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