9 h. ago ‘Another nail in the coffin’: Germany’s car industry faces up to Trump’s tariffs

There are major concerns about the potentially ‘catastrophic’ impact US policy will have on vehicle makers Emerging into the springtime sun from gate 17 at Volkswagen’s main factory in Wolfsburg at the end of his shift on Thursday afternoon, Carsten, 63, pulled heavily on a cigarette and shook his head when asked about Donald Trump’s US tariff policies.“It’s just another nail in the coffin for the German car industry,” the assembly line worker said. He cited managers’ plans to slash jobs and close factories earlier this year, and a decade before that the ‘dieselgate’ scandal, costly both financially and reputationally, after Germany’s largest carmaker was found to have falsified CO2 emissions tests. Continue reading...

Politics

11 h. ago Ministers 'to water down Net Zero electric car targets next week' in bid to prop up UK industry after Trump tariffs

No10 refused to be drawn on claims that the zero emission vehicles (ZEV) mandate could be eased next week, with targets downgraded.

Politics

32 h. ago Stocks tumble on Wall Street as Donald Trump’s sweeping tariffs send shockwaves through global markets – business live

Ursula von der Leyen says tariffs a ‘major blow’ to world economy, as US dollar falls to six month low after US President Trump’s ‘liberation day’Full report: Trump announces sweeping new tariffsAnalysis: Trump’s tariffs likely to raise prices and cause chaosWhat are tariffs and why do they matter?The new US tariffs “will only create losers” with US consumers particularly hard hit, the German Automotive Industry Association (VDA), has said in a statement, calling on the EU “to act together and with the necessary force, while continuing to signal its willingness to negotiate.”The body, which represents the powerful German auto industry, said the tariffs markedthe United States’ departure from the rules-based global trade order – and thus a departure from the foundation for global value creation and corresponding growth and prosperity in many regions of the world.This is not America first; this is America alone. Continue reading...

Economics

35 h. ago John Swinney: I will leave 'no stone unturned' to protect Scotch whisky industry from Trump tariffs

First Minister John Swinney said tariffs would be damaging for economic activity

Politics

35 h. ago Sir Tom Hunter fires tariffs warning to Donald Trump and says whisky industry 'will come through this'

The Scots billionaire and philanthropist warned Trump's system of tariffs would create "havoc".

Events

36 h. ago US dollar ‘at risk of confidence crisis’ as Trump tariffs rattle global markets – business live

Ursula von der Leyen says tariffs a ‘major blow’ to world economy, as US dollar falls to six month low after US President Trump’s ‘liberation day’Full report: Trump announces sweeping new tariffsAnalysis: Trump’s tariffs likely to raise prices and cause chaosWhat are tariffs and why do they matter?The new US tariffs “will only create losers” with US consumers particularly hard hit, the German Automotive Industry Association (VDA), has said in a statement, calling on the EU “to act together and with the necessary force, while continuing to signal its willingness to negotiate.”The body, which represents the powerful German auto industry, said the tariffs markedthe United States’ departure from the rules-based global trade order – and thus a departure from the foundation for global value creation and corresponding growth and prosperity in many regions of the world.This is not America first; this is America alone. Continue reading...

Economics

40 h. ago Vehicle makers may ‘review output’ because of US tariffs, industry says

Donald Trump has imposed a 10% tariff on US imports of UK goods, rising to 25% for cars.

Politics

42 h. ago EU threatens countermeasures and Asian markets plunge after Trump tariff announcement – business live

Ursula von der Leyen says tariffs a ‘major blow’ to world economy after US President Trump targets allies on what he dubbed ‘liberation day’Full report: Trump announces sweeping new tariffs, upending decades of US trade policyAnalysis: Trump’s wall of tariffs is likely to raise prices and cause chaos for businessThe new US tariffs “will only create losers” with US consumers particularly hard hit, the German Automotive Industry Association (VDA), has said in a statement, calling on the EU “to act together and with the necessary force, while continuing to signal its willingness to negotiate.”The body, which represents the powerful German auto industry, said the tariffs markedthe United States’ departure from the rules-based global trade order – and thus a departure from the foundation for global value creation and corresponding growth and prosperity in many regions of the world.This is not America first; this is America alone. Continue reading...

Economics

47 h. ago Canada Trump tariff exemption ‘like dodging a bullet into the path of a tank’, says business leader

Automotive industry and prime minister Mark Carney note that 25% tariffs on Canadian steel, aluminum and automobiles will still come into effect within hoursCanada’s exemption from Donald Trump’s global tariffs was “like dodging a bullet into the path of a tank”, say business leaders as other levies are poised to hit key industries that drive the country’s economy.In a theatrical unveiling of tariffs on countries with “unfair” practices on Wednesday afternoon, Canada was noticeably absent, alongside trade ally Mexico. Continue reading...

Politics

49 h. ago Trump claims U.S. industry ‘reborn’ as he imposes sweeping tariffs on his highly touted ‘Liberation Day’

President falsely claims that tariffs will be paid by foreign countries even though they are paid by American importers and passed on to consumers as higher prices

Politics

5 d. ago Trump news today: President says he ‘couldn’t care less’ if car prices go up as industry braces for tariffs

President believes taxing imports will force people to buy American-made cars

Politics

5 d. ago Trump says he ‘couldn’t care less’ if tariffs make car prices go up

Trump says tariffs on foreign-made cars would would lead to increased sales of US-made carsDonald Trump said on Saturday he did not warn car industry executives against raising prices as tariffs on foreign-made autos come into force, telling NBC News he “couldn’t care less” if they do.The president’s comments came as the White House prepared to impose new tariffs on a range of consumer goods on 2 April, a move that has drawn criticism from international leaders and concerns about potential price increases for consumers.Guardian staff contributed reporting Continue reading...

Politics

6 d. ago Protests hit Tesla dealerships across the world in challenge to Elon Musk

From Australia to Europe and the US, demonstrators rallied against carmaker’s dismantling of US federal governmentThousands of people worldwide protested Elon Musk and his efforts with Donald Trump to dismantle the US federal government on Saturday, with rallies held in front of nearly every Tesla showroom in the US and many around the world – a concerted effort to go after the billionaire’s deep pockets as the CEO of the electric vehicle maker.Protest organizers asked people to do three things: don’t buy a Tesla, sell off Tesla stock and join the “Tesla Takedown” movement. Continue reading...

Events

8 d. ago Why Trump’s 25% tariffs on autos could backfire | Steven Greenhouse

Nearly half of the cars sold in the US are imported and Trump’s 25% tariff will add at least $6,000 to the sticker price of the average car, industry experts sayAfter two months of flip-flopping on tariffs, imposing them one day and often suspending them the next, Donald Trump gunned the accelerator of his trade war on Wednesday by announcing a 25% tariff on autos and auto parts imported into the United States. That’s a very big deal, and while the president insists this hefty import tax on cars is going to be good for “anybody who has plants in the United States”, his move – like a car in desperate need of a tune-up – could easily backfire.Nearly half of the cars sold in the US are imported, and Trump’s 25% tariff will add at least $6,000 to the sticker price of the average car, industry experts say. Domestic auto producers will be able to jack up their sticker prices because the new tariffs will make US automakers face considerably less price competition from imported cars. This e...

Politics

8 d. ago FTSE 100 Live 27 March: Next on a roll after £1bn profit, car industry stocks shaken by tariffs

The hot streak for Next continued today after the retailer racked up £1 billion profit and upgraded guidance.

Economics

8 d. ago Japan says ‘every option’ on table as global car industry reels from Trump’s 25% tariffs

Automakers’ shares drop as trade partners rush to respond to US president’s latest measures

Politics

8 d. ago FTSE 100 Live 27 March: Next posts £1bn profit, car industry stocks shaken by tariffs

The hot streak for Next continued today after the retailer racked up £1 billion profit and upgraded guidance.

Economics

8 d. ago UK car industry hits out at Trump’s ‘disappointing’ tariffs on imported vehicles

The Society of Motor Manufacturers and Traders, which represents the British car industry, urged the US and UK governments to strike a deal.

Politics

1 week ago Chinese electric vehicle maker BYD reports 2024 revenue over $100B, topping Tesla's sales

Chinese electric vehicle maker BYD has reported its revenue soared to a record $107 billion last year as its sales of battery electric and hybrid vehicles jumped 40%

Economics

2 w. ago California's wine industry leery of tariffs, but some growers hope they help

Escalating trade tensions between the U.S. and Europe are being closely watched in California’s already struggling iconic wine industry

Politics