Trump's Tariff Talks: Auto Industry's $60 Billion Gamble

President Trump met with GM CEO Mary Barra to discuss American automotive investment, amid his tariff tensions. The automakers seek policy assurance on tariffs and vehicle emissions to advance investment. Trump's recent steel and aluminum tariff hikes could significantly impact the industry.

President Donald Trump held discussions with General Motors CEO Mary Barra on Wednesday concerning the automaker's investment strategies amidst the ongoing tariff conflict, a White House official informed Reuters.

During these discussions, Trump and Commerce Secretary Howard Lutnick emphasized the necessity for the automotive industry to increase domestic production. The president has provisionally waived 25% tariffs on Canada and Mexico for automakers adhering to existing trade regulations.

Trump subsequently announced that GM is considering a $60 billion investment, though the specifics remain undefined. The automotive sector is seeking policy clarity, particularly regarding tariffs and emissions, to recalibrate their North American investment strategies effectively.

(With inputs from agencies.)