Trump tariffs wipe out $12 billion from global carmakers – WSJ
Briana Lupea
Top automakers could see net profits drop by 25% Fourteen global automakers have suffered nearly $12 billion in losses since the roll-out of US President Donald Trump’s trade tariffs, and are expected to lose significantly more by the end of the year, the Wall Street Journal reports. Trump announced the new tariffs in April, targeting 185 countries and territories. A universal 10% tariff on all imported vehicles and parts took effect on April 5, followed by country-specific rates on April 9.
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