President Donald Trump threatened a 5 percent tariff on all goods coming from Mexico, which would ramp up to 25 percent by October.
June 3, 2019
June 3, 2019—President Donald Trump threatened a 5 percent tariff on all goods coming from Mexico, which would ramp up to 25 percent by October.
That could hit automakers hard. There are a number of manufacturers that produce vehicles in Mexico.
Auto parts suppliers are also poised to suffer from the tariffs. Detroit Free Press auto industry reporter Phoebe Wall Howard Tweeted that companies like Aptiv, Delphi, Lear and Visteon derive up to 37 percent of their global revenue from Mexico. She cited a Deutsche Bank analyst.
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