H. Yoo
Research expert covering South Korea
Automotive trade and tariffs in the United States - Statistics & facts
In early March 2025, the Trump administration granted U.S. automakers a one-month exemption from the 25 percent tariffs which will apply to vehicle and auto parts traded through the United States-Mexico-Canada Agreement (USMCA). This short reprieve will, however, only delay the impact of these new tariffs on the automotive sector in the region. In 2024, most American consumers already anticipated that increased tariffs would lead to a surge in the price of foreign goods in the country. However, the influence of these tariffs on automotive manufacturers is expected to go beyond a consumer price increase.
