Event Insight
Auto Impact of U.S. Tariff Threat on Imports from Mexico
The US plans to impose a 5% tariff on all imports from Mexico, starting on 10 June. The duty will increase by 5% every month, until reaching a cap of 25% in October.
In 2018, a total of $372 billion in goods and services were imported from Mexico, while the US exported $299 billion to Mexico. Completed vehicles and auto parts from Mexico accounted for $93 billion, or 25% of the total, while vehicles and parts to Mexico amounted to $22 billion, or 7% of the total. How will these tariffs affect the industry?