Photo: Trump postpones introduction of increased duties on cars from Canada and Mexico (gm.ca) Author: Konstantin Shirokun
US President Donald Trump has delayed additional tariffs on auto imports from Canada and Mexico, activating a 30-day grace period for vehicle-related goods covered by the North American Free Trade Agreement (NAFTA).
RBC-Ukraine reports this with reference to Reuters.
It is noted that Trump made the decision on a month-long delay after negotiations with the heads of Ford, General Motors and Stellantis. American automakers supported the idea of introducing duties, but said that they want to see more certainty in the country's tariff policy.
In addition to the “Big Detroit Three,” the US president's deferment applies to Honda and Toyota. According to NAFTA requirements, in order to avoid the tariff, cars must contain at least 75 percent North American parts.
Experts predict that the duty will lead to an increase in prices for cars in the US by three to seven thousand dollars. The increase in price will also lead to a decrease in activity in the market, and manufacturers will be forced to increase expenses on re-equipping production sites.
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