Nissan can dump Mexican production lines due to Trump’s tariffs, the CEO says
Monetarymacro.com CIO Joseph Wang argues that Donald Trump’s tariffs in Canada and Mexico are more than just negotiation tactics about “making money.”
Nissan CEO Uchida proposed that President Trump’s tariffs would force automakers to force production in Mexico.
“From Mexico to the US, we are exporting a considerable number of cars, with 320,000 units exported from Mexico to the US this fiscal year (…); to transfer production of these models elsewhere. If this is a decision, we’ll think about how to make it a reality while monitoring the situation.” Reuters translation.
The move could be a major blow to the Mexican auto production sector. This could be a major blow as nearly 670,000 vehicles were made by Nissan last year, with over 456,000 of which have been exported, and the movement is being exported. Spanish unotv.
The outlet said Nissan ranks second in Mexico For those metrics after General Motors.
White House economists say mutual tariff negotiations with other countries are underway
In “Morning with Maria,” White House counselor Peter Navarro, a trade and manufacturing company, detailed the “most powerful weapon” Trump opposes inflation. (Chip Somodevilla/Getty Images)
“We export a large amount of tariffs, so if the tariffs are high, this will have a big impact on our business, so we need to monitor this carefully.”
Trump’s 25% tariffs in Mexico are currently pending until at least March following a conversation with Mexican President Claudia Sinbaum. Trump argues that the main goal of tariffs for US southern neighbors is to promote border security.
Nissan CEO Uchida will speak in an interview with Bloomberg Television at the company’s global headquarters in Yokohama, Japan on November 29, 2021. (Cioshi Ota/Bloomberg Via/Getty Images)
“It was a very friendly conversation, and she agreed to immediately supply 10,000 Mexican soldiers at the border separating Mexico and the United States. These soldiers stopped the flow of fentanyl, It will be specially designated to stop the flow of illegal immigration into our country,” Trump said. A true social post after a conversation with Sheinbaum, as critics argued that Mexico has sent border forces multiple times over the past few years.
What will happen to Trump’s tariffs in China, Canada and Mexico?
Still, Trump said that conversations between the two countries will be held by ministers, including Secretary of State Marco Rubio, Secretary of Commerce Howard Rutnik and Treasury Secretary Scott Becent, according to a post at the time.
Treasury Secretary Scott Bescent discussed global trade and Trump’s tariff plans on “morning with mornings” on Friday. (Paul Morigi/Getty Images)
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However, the possibility of tariffs reopening is to consider actions to avoid higher costs if the production line is based on popular US companies like Nissan. Mexico, China, or Canada. In addition to tariffs on Mexico, the White House has announced that there will be mutual tariffs in countries that add premiums to the costs of American goods.
“Making trade more reciprocal and more balanced will reduce trade deficits. Growing the US economy and profits of American workers, manufacturers, farmers, ranches, entrepreneurs and businesses. “We can improve our trade ties with our trading partners for this,” he said in Trump. Thursday’s memorandum.