Honda Senior VP Warns of Automotive Industry Disaster if Canadian Tariffs Rise
HMC Honda Motor ADR
$33.35 -4.39%
View chart & analysis → - 1Jennifer Thomas, Senior Vice President of American Honda Motor Co., warned that the automotive industry will face a catastrophic scenario if the U.S. and Canada fail to reach new trade negotiations by the end of this year.
- 2President Donald Trump threatened to double tariffs on Canadian-made vehicles and parts from 25% to 50% starting January 1 if the two countries fail to reach an agreement.
- 3More than 60% of the vehicles Honda sells in the U.S. are manufactured at various U.S. assembly plants.
So what's the key point?
There is a warning that taxes on cars could rise up to 50% if the U.S. and Canada cannot reach a trade agreement. Honda manufactures many cars in the U.S. and could face significant difficulties if this situation occurs.
Source CNBC +1 · View original ↗
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