A recent report by S&P Global Mobility suggests that tariffs imposed on light-duty vehicles will significantly impact sales and production globally, with effects predicted to last for at least the next two years. The analysis indicates a substantial downturn in the automotive industry, primarily due to increased costs associated with tariffs on imported components. This development poses significant challenges to manufacturers and could lead to job losses and reduced economic output in the sector.
Source: https://www.autonews.com/manufacturing/an-trump-tariffs-global-outlook-0422