Shares of major U.S. automakers, including General Motors and Ford, dropped significantly amid concerns that incoming President Donald Trump’s planned tariffs on imports from China and North America could increase car prices by approximately $3,000. Analysts from Wolfe Research highlighted that any such tariffs would be devastating for the industry’s supply chain and affordability, as many consumers are already struggling with rising vehicle costs. Trump’s tariff strategy echoes his previous administration’s approach and has sparked worries about potential retaliatory measures from Mexico, which could further complicate the automotive trade landscape. Both GM and Ford’s executives have stated they are assessing the potential impacts of these tariff changes on their operations and pricing strategies.
