Trump Tariff Vow Roils Markets, Autos as Mexico Urges Talks
- White House threatens hiking duties to 25% on Mexican imports
- Major implications seen for U.S. automakers, other companies
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President Donald Trump’s vow to impose tariffs on all Mexican goods over illegal immigration threatened to increase costs for automakers and other manufacturers and left Mexico’s president calling to resolve the issue “with dialogue.”
U.S. equities slumped as Trump opened a new front in his trade wars, threatening to place escalating tariffs on Mexico and jeopardizing a new North American trade agreement. Mexico is by far the largest source of U.S. auto imports and tariffs on goods from there would increase costs for many major manufacturers.