BrianPia
$HMC Honda warns of a “catastrophic” outcome for the auto industry if the U.S. and Canada fail to reach a new trade deal by year-end. Trump has threatened to double tariffs on Canadian vehicles and parts from 25% to 50% on Jan. 1.
Jennifer Thomas, American Honda’s SVP of corporate affairs, says North America needs a trilateral deal that includes Mexico to remain competitive. Auto production relies on parts crossing borders, making tariff uncertainty a serious risk.
Meanwhile, trade deals with Japan and South Korea include 15% U.S. vehicle tariffs. Thomas is “cautiously optimistic” renewed U.S.-Canada talks can avert escalation. The stakes: costs, supply chains and North American auto competitiveness. (Source: CNBC)
