LatinNews Daily - 27 March 2025

*Rogelio Garza, the president of Mexico’s automobile industry association Asociación Mexicana de la Industria Automotriz (Amia), has recognised that the Mexican car industry is “at an impasse” and “waiting to see what will happen” ahead of 2 April, the new deadline for US tariffs on Mexican imports. Garza made his comments while speaking on an episode of the Norte Económico podcast of Mexico’s financial group Grupo Financiero Banorte. His comments come as yesterday US President Donald Trump unveiled a 25% tariff on imported automobiles and automobile parts which are due to take effect on 3 April. According to a White House fact sheet, under the proclamation signed yesterday by Trump, importers of automobiles under the US-Mexico-Canada Agreement (USMCA) “will be given the opportunity to certify their U.S. content and systems will be implemented such that the 25% tariff will only apply to the value of their non-U.S. content”. It adds that USMCA-compliant automobile parts will remain exempt from the tariff until the US Secretary of Commerce, “in consultation with U.S. Customs and Border Protection (CBP), establishes a process to apply tariffs to their non-U.S. content”.

End of preview - This article contains approximately 189 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial