U.S. President Donald Trump hailed the framework trade agreement with the European Union as one that promises to be “great for cars.”

Tariff expenses are starting to pile up for auto manufacturers and suppliers. General Motors Co., for example, said tariffs cost it $1.1 billion in the second quarter, while Stellantis expects a full-year tariff impact of $1.2 billion-$1.8 billion.

Six months after Donald Trump introduced the first US tariffs, companies have started to feel the effects of a shock whose repercussions, though they have been contained for now, are likely to be long-lasting.

Experts predict near-term price instability for EVs and other vehicles due to Trump's tariffs, potentially leveling off by 2027. Here's what you can do now if you're in the market to buy one.

Through the deal, the EU will purchase $750 billion worth of oil, gas, nuclear fuel, and semiconductors from the US

Detroit Axle said Trump's new tariff policy is forcing it to shut a facility and cut jobs. Experts look for more companies to do the same.

Tesla vehicles are lined up at a vehicle storage yard at an industrial port, on the day U.S. President Donald Trump struck a trade deal with Japan that lowers tariffs on auto imports, in Yokohama, near Tokyo, Japan, July 23, 2025. Japanese automakers breathed a sigh of relief after U.S. President Donald Trump finalized a trade agreement last week.

There is a growing level of economic uncertainty surrounding the North American Auto Industry, especially the Big Three.

A sense of urgency grows in South Korea’s automotive industry following Japan and the European Union’s successful negotiation with the United States. The two biggest rivals have managed to lower mutual and auto tariffs to 15%,

The Detroit Three automakers express concerns over a trade deal lowering tariffs on Japanese auto imports while maintaining higher tariffs on Canadian and Mexican imports. Trump's proposed tariff increases further strain the U.

Andy Mavrokefalos, owner of Attica Manufacturing, which makes industrial parts for several sectors including automotive, shares the concern. While automotive parts are tariff-free under the Canada-U.S.-Mexico trade agreement (CUSMA), he is paying tariffs on the Canadian steel, aluminum and copper derivatives he uses to make his parts.