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Trump Tariffs Hit Ford Harder Than Foreign Rivals, US Automaker Says Trump Tariffs Hit Ford Harder Than Foreign Rivals, US Automaker Says
Trump Tariffs Hit Ford Harder Than Foreign Rivals, US Automaker Says The automaker that builds more cars in the US than any other company says it may actually be hurt more by President Donald Trump's tariffs than foreign manufacturers. Ford said it's at a disadvantage compared to companies based in the European Union, Japan, and South Korea, The Wall Street Journal reported. Trump has set the tariff rate for those nations at 15%, significantly lower than the broad 25% duty on autos and light trucks that began in the spring. The 15% duties are the newest in Trump's rapidly changing tariff policies, with the latest rates going into effect on Friday, Aug. 1. Be…

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by Chris Spiker
Business
Volvo Slashing Up To 800 East Coast Jobs As Trump's Tariffs, Low Demand Rattle Automakers Volvo Slashing Up To 800 East Coast Jobs As Trump's Tariffs, Low Demand Rattle Automakers
Volvo Slashing Up To 800 East Coast Jobs As Trump's Tariffs, Low Demand Rattle Automakers Up to 800 workers are being laid off at Volvo plants across the mid-Atlantic as concerns grow about the US auto industry due to President Donald Trump's tariffs. Volvo Group North America will lay off 550 to 800 employees, a company spokesperson confirmed to the Daily Voice on Friday, April 18. The layoffs will happen at plants in Maryland, Pennsylvania, and Virginia. The Swedish automaker cited the need to adjust to worsening economic conditions. "Heavy-duty truck orders continue to be negatively affected by market uncertainty about freight rates and demand, possible regulatory chang…

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by Chris Spiker
Business
Panic Buying Shrinks US Vehicle Supply As Trump's Tariffs Set Up Summer Price Hikes Panic Buying Shrinks US Vehicle Supply As Trump's Tariffs Set Up Summer Price Hikes
Panic Buying Shrinks US Vehicle Supply As Trump's Tariffs Set Up Summer Price Hikes The US supply of new and used vehicles is quickly declining after car shoppers rushed to make purchases before President Donald Trump's sweeping tariffs shook the auto industry, setting the stage for a costly summer. New-vehicle stock fell to 2.69 million units by Tuesday, April 1, according to auto data company Cox Automotive. That was down 10.2% from the start of March and 2.4% lower than the same time in 2024. Buyers flooded showrooms in the final week of March, driven by seasonal trends and fears of price hikes tied to Trump's rapidly changing tariffs. "With import tariffs no…

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by Chris Spiker
Business
Trump Pauses Auto Tariffs Amid Trade War Fallout With Canada, Mexico Trump Pauses Auto Tariffs Amid Trade War Fallout With Canada, Mexico
Trump Pauses Auto Tariffs Amid Trade War Fallout With Canada, Mexico President Donald Trump is giving US automakers a brief delay on tariffs imposed against Canada and Mexico as trade war tensions escalate and concerns rise domestically about the economy. The pause was confirmed at a news briefing by White House Press Secretary Karoline Leavitt on Wednesday, Mar. 5. The move came one day after Trump officially placed 25 percent tariffs on Canadian and Mexican goods while raising tariffs on Chinese imports to 20 percent. The country's "Big Three" automakers — Stellantis (formerly Chrysler), Ford, and General Motors — talked with Trump abou…

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by Chris Spiker