Fourteen global automakers have suffered nearly $12 billion in losses since the roll-out of US President Donald Trump’s trade tariffs, and are expected to lose significantly more by the end of the year, the Wall Street Journal reports.
Trump announced the new tariffs in April, targeting 185 countries and territories. A universal 10% tariff on all imported vehicles and parts took effect on April 5, followed by country-specific rates on April 9.
According to the WSJ’s analysis published on Thursday, Toyota has sustained the largest loss – around $3 billion in the second quarter alone – and expects a total tariff impact of $9.5 billion by the end…
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