After an outcry from Detroit, President Donald Trump has granted one-month tariff exemptions on most auto imports from Canada and Mexico, underscoring the continued clout of US carmakers.
The “Big Three” automakers — Ford, General Motors and Chrysler-owner Stellantis — operate their businesses on an integrated basis throughout North America, leaving them badly exposed to the proposed tariffs.
Trump, who won hotly-contested Michigan during the 2024 presidential campaign, halted the auto tariffs on Wednesday, just a day after they took effect. The announcement represents relief “but not a cure” since the same tariffs could kick in next month, said Bank of America.
– Diminished ‘Big 3’ still a force –
While much diminished from their heyday, General Motors, Ford and Stellantis remain giant players in the United States in terms of jobs and economic impact.
Automakers in the United States employ 436,000 workers, with the Big Three accounting for about 55 percent of that number.
The trio also …