Trump plans to impose a 25% tariff on all imported autos.
President Donald Trump's tariffs on automobiles and automobile parts are going to hit some automakers harder than others, particularly among those with a lower share of their U.S.-sold vehicles assembled outside the U.S.
For instance, Volvo, Mazda, Volkswagen and Hyundai Motor, which include the brands Genesis and Kia, imported at least 60% of their respective U.S. sales in 2024, according to S&P Global Mobility.
Comparatively, Ford, Honda, Stellantis and General Motors have the most cars made in the U.S., the S&P Global Mobility report showed.
Trump, who views tariffs as a way to bring in tax revenue to finance his plans for tax cuts while spurring a revitalization of domestic manufacturing, announced on Wednesday plans to impose a 25% tariff on all imported autos.
He indicated that those tariffs, up from the 2.5% previously announced, would take effect on April 2, when he expects to announce his reciprocal tariff plans.