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Automakers Feel Tariff Impact as August 1 Deadline Looms
Automakers Feel Tariff Impact as August 1 Deadline Looms
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BTCCSquare news:
Automakers are already reporting significant financial strain from escalating tariffs, with Stellantis revealing a projected $2.7 billion loss tied to trade levies. The parent company of Jeep and Chrysler absorbed $350 million in direct costs and production disruptions during the first half of 2025, prompting a suspension of financial guidance.
New tariffs on foreign vehicles will rise to 30% on August 1, compounding existing 25% duties on auto imports and 50% levies on steel and aluminum. While White House officials claim the EU is eager to negotiate, President TRUMP has ruled out delaying the deadline—continuing a pattern of unpredictable trade policy adjustments that keep manufacturers in limbo.
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