President Trump's proposed tariffs on major trading partners like Mexico, Canada, and China are expected to negatively impact US growth and inflation. The levies will hurt US companies reliant on imports and manufacturing from these countries, particularly in sectors like fashion, automobiles, and alcoholic beverages.
President Donald Trump 's proposed tariffs on some of the U.S.'s major trading partners — Mexico, Canada and China — present a challenging headwind for U.S. companies that depend on the affected countries for imports and manufacturing. While forecasts on the full economic impact of tariffs vary across Wall Street, the levies are widely expected to negatively hit U.S. growth and place upward pressure on inflation.
"We do have to work these through before we can express confidence on where we are on the underlying economy." Bank of America analyst John Murphy highlighted Ford Motor and General Motors as names that will be "extremely challenged" by the tariffs. "Ford and General Motors produce 15-20% and 30-35% of their total vehicles in Canada and Mexico respectively," he wrote in a Friday note.
TARIFFS ECONOMY INFLATION CONSUMER AUTO INDUSTRY
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