Out of the pan & into the fire, as the ol' cliche goes. The trade war continues to heat up. There just might be a run on headache meds. Come on, no hoarding folks!
From the WSJ (link below): "President Trump said he would impose 25% tariffs on global automotive imports to the U.S., making good on pledges to penalize foreign makers of cars and trucks...The U.S. will start collecting the auto tariffs on April 3, Trump said, the day after he is set to announce a broader slate of trade actions...The tariffs will cover finished automobiles and automotive parts, a senior administration official said...The 25% tariff will be added on top of existing duties, including a 2.5% tariff currently imposed by the U.S., as well as existing 25% tariffs on light trucks,?known as the chicken tax,?the senior administration official said. They would be added on top of 25% tariffs on goods from Canada and Mexico that Trump imposed..."
From Supply Chain Dive (link below): "An estimated 76% of the roughly 3.5 million vehicles manufactured in Mexico during 2023 were imported into the U.S., according to?International Trade Administration data. Meanwhile, Canada exported about 93% of its manufactured vehicles to the U.S. the same year, per the?Canadian Vehicle Manufacturers’ Association."
From CNBC & GlobalData (link below): Of all automotive sales in the U.S. in 2024, 53.4% were imported.
I invite you to join us for a LIVE webinar on April 4th, as we host a panel discussion with experts that will help your supply chain organization on deciphering all the disruption & preparing to move forward in the best way possible. Omar Nashashibi, Founder of Inside Beltway & former policy analyst with the OMB, will provide expert analysis on the policy shifts and what they signal for the future; while Mark Gilham with Enable will share practical strategies to navigate these changes, mitigate risks, and protect margins. I'll be co-hosting the conversation with Marty Parker.
Register here: https://lnkd.in/e55YjhVH
Oh - and its BYOGP. (bring your own Goody's Powder). ??
#supplychain #tariffs Supply Chain Now