UAW leader touts Trump's Canada, Mexico tariffs as effort to 'stop the bleeding' of US jobs
Published On Mar 10, 2025, 11:00 AM
UAW President Shawn Fain supports President Trump's tariffs on Canada and Mexico, claiming they are necessary to protect U.S. jobs and halt the loss of manufacturing jobs. He asserts that the U.S. has been in a crisis due to past trade agreements like NAFTA, and views the tariffs as a crucial measure, despite recognizing that they aren't a complete solution. Given that tariffs could significantly increase auto prices, this may lead to reduced demand for vehicles, impacting the automotive industry negatively.
Stock Forecasts
F
Negative
Given the potential increase in vehicle prices due to tariffs and the resultant negative sentiment affecting auto sales, manufacturers like Ford or General Motors could face lower sales volumes and tighter margins. Investors should be cautious about entering positions in these stocks until the tariff situation stabilizes.
GM
Negative
The impact of automotive tariffs on costs for car manufacturers suggests that car buyers may defer purchases or choose less expensive options. This situation could lead car manufacturers into a sales slump, affecting their stock prices negatively in the short term.
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