The auto industry faces fresh turmoil as President Trump's 25% tariffs on Canadian and Mexican imports take effect. Automakers are already grappling with technological shifts and regulatory challenges.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Auto industry faces fresh turmoil as President Trump's 25% tariffs on Canadian and Mexican
00:07imports take effect. Automakers are already grappling with technological shifts and regulatory
00:12challenges. They now face supply chain disruptions reminiscent of the COVID-era chip shortage.
00:17The tariffs are expected to cause imminent surge in vehicle prices and supply shortages,
00:22with S&P Global Mobility predicting a daily production drop of 30% of North American
00:27output. Analysts warn the tariffs' full impact hinges on their duration,
00:31with long-term stability remaining uncertain.