1424 ET - Trump's 25% tariffs on imported vehicles includes "a minimal form of protection for the North American auto supply chain," Wolfe Research's Tobin Marcus and Chutong Zhu write. They say the tariffs exclude U.S. content of USMCA-compliant vehicle imports, among other carve-outs beneficial to the U.S.-Canada-Mexico agreement. Despite the exclusions, the tariffs' impact on North America's auto industry "will be major," since Trump wants to bring manufacturing back to the U.S. from its neighbors, Marcus and Zhu say. "The lack of a broad USMCA exemption from these auto tariffs also reinforces our expectations that the reciprocal tariffs next week will have no such exemption," they say. (paulo.trevisani@wsj.com; @ptrevisani)
(END) Dow Jones Newswires
March 27, 2025 14:24 ET (18:24 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.