How Trump’s tariffs will crush American carmakers

illuminem summarizes for you the essential news of the day. Read the full piece on The Economist or enjoy below:

🗞️ Driving the news: President Donald Trump has imposed 25% tariffs on imports from Mexico and Canada, aiming to pressure these nations on issues like drug trafficking and immigration

🔭 The context: These tariffs, effective March 4, 2025, target all goods from Mexico and Canada, excluding Canadian energy products, which face a 10% tariff
• The move has strained relations with these key trading partners

🌍 Why it matters for the planet: The tariffs could disrupt North American supply chains, leading to increased production costs and consumer prices, particularly in the automotive sector

⏭️ What's next: Canada and Mexico have announced plans for retaliatory tariffs on U.S. goods, potentially escalating into a broader trade war​

💬 One quote: "This is a very dumb thing to do," remarked Canadian Prime Minister Justin Trudeau, criticizing the U.S. tariffs

📈 One stat: The Trade Foundation estimates these tariffs could reduce U.S. GDP by 0.3%

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