0936 ET - The winner from President Trump's plans to impose 25% tariffs on imported vehicles? No one, say analysts at Wedbush in a research note. While Trump is pushing for more auto manufacturing in the US, the analysts note that even US automakers that produce domestically have around half of their auto parts come from foreign markets. Tesla, for example, will be affected, as CEO Elon Musk himself acknowledged on his social media platform. "A US car with all US parts made in the US is a fictional tale not even possible today," say the analysts. They believe they will add up to $100 billion of costs annually for the auto industry, something that will be passed to the consumer and erode demand. (denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
March 28, 2025 09:36 ET (13:36 GMT)
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