Day one of President Donald Trump’s second term did not include issuing tariffs on goods from many of the US’ global trade partners. However, the prospect still lingers, and a December 2024 report from S&P Global Mobility forecasts individual tariffs of 25-30% on China, Canada and Mexico, as well as a universal 10% for the rest of the world. The analyst anticipates retaliatory tariffs from those impacted, and as Trump pushes for manufacturing to relocate to the US, the European automotive industry will inevitably be caught up.

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