Stellantis sees greater tariff impact
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General Motors said tariffs slashed its second-quarter income by more than $1 billion, and other companies pointed to import duties to explain smaller profits.
Ford (F), and Chrysler-parent Stellantis (STLA) voiced concerns Tuesday over a trade deal that would reduce tariffs on Japanese auto imports to 15%.
“A world with tariffs is unacceptable for us,” Beato said. “A world with tariffs puts our plant in a vulnerable position, even more so than it is now, and not only for our plant, but all of southern Ontario and the whole auto industry.”
General Motors was the second auto company this week, after Stellantis, to show the toll that President Trump’s trade policies are taking on the industry.