US tariffs ripple through auto supply chains into Mexico [Yahoo! Finance Canada]
Stellantis N.V. Common Shares (STLA)
Company Research
Source: Yahoo! Finance Canada
The company had announced Thursday that it would pause production at the plant in Toluca, as well as another one in Canada. The pauses would lead to 900 temporary layoffs at plants in Michigan and Indiana. U.S. President Donald Trump announced 25% tariffs on auto imports last week, but since Mexico has a free trade agreement with the United States and Canada, it believes it can get almost all of its auto production exempt under the agreement. Mexico dodged what the White House called “reciprocal” tariffs on dozens of trading partners around the world on Wednesday. On Thursday afternoon, workers arriving for their shift and some leaving the Stellantis plant said the company had not yet informed them of the plans. Mexico President Claudia Sheinbaum on Friday downplayed the company's announcement, saying her economy secretary had spoken with the company. “They are not thinking about reducing the jobs,” Sheinbaum said. “It's a temporary stoppage to be able to evaluate the curre
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