U.S. auto sector poised to take $33bn hit from Trump tariffs

Broader trade war looms with Mexico and Canada targeted

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Many of the cars sold in the U.S. by Japanese automakers are made in Mexico. (Photo by Azusa Kawakami)

AZUSA KAWAKAMI

NEW YORK -- New U.S. tariffs targeting Mexico, Canada and China are set to have repercussions on the global supply chain, with the American auto industry potentially facing a $33 billion hit to profit.

U.S. President Donald Trump on Saturday signed executive orders imposing tariffs of 25% on Canadian and Mexican imports, as well as an additional 10% on goods from China, effective Feb. 4.

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