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All articles tagged with #autos

Canada pushes for a 16-year USMCA renewal as July deadline nears
business1 month ago

Canada pushes for a 16-year USMCA renewal as July deadline nears

Canada formally requested in Washington that the USMCA be renewed for 16 years, arguing the pact gives North America a competitive edge while acknowledging areas to improve; talks on sectoral tariffs are seen as essential, with the US seeking greater access for dairy and higher North American content in cars. If no extension is agreed by July 1, the pact would be renewed annually through 2036 amid domestic pressure to conclude a deal.

via BBC|
#autos#business#canada
policy2 months ago

How a Reagan-era ad derailed the Canada–U.S. trade talks

A high‑stakes White House meeting in October 2025 left Canada and the U.S. on the verge of an interim pact covering steel, aluminum, uranium, energy, and autos, but 16 days later talks collapsed. President Trump cited Ontario Premier Doug Ford’s $75 million Reagan‑era ad as the trigger, though officials say broader auto‑industry frustrations and Ottawa’s moves against Stellantis and GM were the real breakpoints. Canada’s retaliatory tariffs and import restrictions further poisoned negotiations, and while talks restarted in March, negotiators have not recaptured the 'magic moment' of October. With a July 1 deadline looming to renew USMCA or press toward a bigger deal, industry leaders are urging a focus on removing tariffs and returning to substantive talks.

via Politico|
#autos#canada#policy
EU keeps options open as Trump threatens 25% auto tariffs
business2 months ago

EU keeps options open as Trump threatens 25% auto tariffs

EU officials say they’ll keep options open as Trump threatens to raise tariffs on European cars and auto parts to 25% over alleged noncompliance with the Turnberry deal; Brussels says it’s implementing the pact in line with standard practice while EU governments remain divided on safeguards, with a final vote possible soon, underscoring the risk of a renewed transatlantic trade dispute.

via politico.eu|
#autos#business#european-commission
China’s chip- and car-led export surge defies slowing U.S. demand
business4 months ago

China’s chip- and car-led export surge defies slowing U.S. demand

China posted a nearly 22% jump in exports for January–February, led by semiconductors (up about 73%), autos (67%), and electronics, as demand outside the U.S. rose even as shipments to America fell roughly 11%. Imports rose about 20%, producing a January–February trade surplus of about $213.6 billion. The data come as Beijing targets 2026 growth of 4.5%–5% amid global tensions and domestic weakness, with AI-driven chip demand helping sustain export strength.

via PBS|
#autos#business#china
India trims EU luxury-car tariffs to 30%, opening market to BMW, Mercedes
world5 months ago

India trims EU luxury-car tariffs to 30%, opening market to BMW, Mercedes

India will immediately reduce import duties on high-end European cars to 30% from up to 110% under a new EU trade deal, with price-based caps and annual import quotas that together lift total allowed imports to 160,000 vehicles over 10 years; EVs priced above 20,000 euros will also see cuts, eventually reaching 10% over five years, while domestic EV makers like Tata and Mahindra remain protected for now. The move is expected to boost luxury-car availability and technology transfer for brands such as BMW, Mercedes-Benz, VW, Renault and Stellantis, though price reductions may not be immediate.

via Reuters|
#autos#eu-india-trade-agreement#luxury-cars
politics5 months ago

Tariffs vs. Car Prices: Trump’s Auto Victory Tour Meets Reality

The White House touts its auto tariffs as not causing big price hikes, noting strong 2025 auto sales and a December average new-car price of about $50,326, but industry analysts warn prices may rise in 2026. Automakers say tariffs cost them billions (Ford about $1B in 2025; GM $3.5–$4.5B), though many costs were absorbed and relief measures like tariff rebates and policy tweaks are meant to ease the impact. Republicans and Democrats alike caution that affordability remains a political hurdle as reshoring of production will take years and prices stay stubbornly high.

via Politico|
#affordability#autos#politics
Huawei's 2023 Profit Doubles Amid Strong Earnings Growth
business2 years ago

Huawei's 2023 Profit Doubles Amid Strong Earnings Growth

Huawei's net profit for 2023 more than doubled, with revenue growing by 9.6% to 704.2 billion yuan, and net profit increasing by 114.5% to 87 billion yuan. The company's smartphone business made a comeback with the release of the Mate 60 Pro in China, boosting sales and market share. Revenue from the intelligent automobile solutions business grew by 128.1%, while the consumer business saw a 17.3% increase in revenue. ICT remained Huawei's biggest revenue driver, with cloud revenue growing by nearly 22%.

via CNBC|
#autos#business#huawei