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Automakers Absorb $11.7 Billion Tariff Impact as Trade Policies Bite
Automakers Absorb $11.7 Billion Tariff Impact as Trade Policies Bite
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BTCCSquare news:
Toyota's $3 billion fiscal Q1 operating income drop underscores the auto sector's mounting tariff burden. The world's largest automaker joins Volkswagen, GM, Ford, and Honda in a collective $11.7 billion hit from US trade policies.
Beyond Japan's 15% import tariffs, manufacturers face cascading effects from 25% duties on vehicles crossing USMCA borders. Even domestically-focused producers like Tesla confront supply chain Ripple effects from the protectionist measures.
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