The EU is intensifying its efforts to avoid a tariff dispute with President Trump, who has said he plans reciprocal tariffs on global trading partners.
The Trump administration is delivering an initial strike against California car pollution regulations compelling zero-emission vehicle sales that the president says are strangling consumer choice.
The move for additional tariffs on automobiles is the latest in a rapidly widening trade war as Trump delivers on his campaign pledges to institute sweeping tariffs on U.S. allies and rivals alike. It comes a day after Trump unveiled his most expansive measure yet, reciprocal tariffs.
The group aims to sell 710,000 units this year and make a renewed push overseas targeting European, Middle East and East Asia markets.
VW, Hyundai-Kia and Mercedes are among the most exposed companies if President Trump imposes higher tariffs on cars they export to the U.S.
Shares of United States Steel Corp. dropped as much as 1.9 percent after President Donald Trump said his tariffs are saving the company, while distancing himself from his offer to negotiate an investment by Japanese steelmaker Nippon Steel Corp.
Trump told reporters that he would enact import taxes on cars, semiconductors and pharmaceuticals “over and above” the reciprocal tariffs at a later date.
The U.S.-based private equity firm, which has also invested in Marelli, is evaluating an equity or debt investment to improve Nissan’s financial position, Bloomberg reported.
Isuzu Motors Ltd. is investing $280 million to build a new manufacturing plant in South Carolina, a timely move as Japanese carmakers brace for steep tariffs on components imported to the U.S. from Mexico and Canada.
Renault, which is Nissan’s biggest shareholder, will not give up its Nissan stake without seeking a premium from whoever gains control over its longtime alliance partner.