President Donald Trump is considering 25% tariffs on Canada and Mexico that would take effect next month on February 1. RBC Capital Markets Global Autos analyst Tom Narayan joins Morning Brief to discuss the potential impact these import taxes could have on the automotive industry.
Narayan indicates that while Trump's proposed tariffs were "expected," he finds it "interesting" that implementation was pushed to February. He emphasizes that if implemented, these tariffs would have severe consequences for the US auto industry.
"The now president ran on a campaign of bringing inflation down. A car purchase is one of the most highest-profile purchases the consumer can make.