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Are Trump’s Auto Tariffs Reshaping the Industry?
AlArabiya English
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2 days ago
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News
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00:00
Car company Steliantis claimed that President Trump says tariffs have cost them around $350 million.
00:07
The automobile maker is responsible for brands like Foxall, Jeep and Fiat.
00:11
They've been hit by a 25% tariff on imports to the US.
00:15
Their total shipments to North America are also down by 25% in the last three months
00:20
and sales have fallen by 10%.
00:22
Freddie, first to you on this.
00:25
Was this inevitable?
00:26
Steliantis is based in the Netherlands.
00:28
Do you think you're going to see them make a move to the US as a result of this?
00:31
Well, yes, I think it's very possible that they will up their operations.
00:35
I believe they already have a presence in the US.
00:36
They own Ram trucks.
00:38
I think they make them there.
00:40
But you will certainly see Steliantis and probably other companies too in the next few months
00:47
considering a big shift of manufacturing operations into the US
00:53
just because Donald Trump isn't budging on the car tariffs.
00:56
He may be budging on other tariffs.
00:58
He may be softening some.
01:00
He may be pausing many.
01:02
But on car tariffs, he seems very resolute.
01:05
And that's why you see the price of Ford, an American car manufacturer, going up this year.
01:10
And you see other companies struggling.
01:13
Jaguar Land Rover announced quite a few job losses last week.
01:17
And there's no way that these car companies cannot suffer.
01:23
These international car companies cannot suffer as a result of Donald Trump's tariffs.
01:28
And I think Steliantis are particularly vulnerable because they are based in the Netherlands,
01:32
but they are very much an international global car company.
01:35
And so these tariffs are almost designed to hurt them for the benefit of American-made,
01:43
America-first manufacturing.
01:45
All right.
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