U.S. considers one month extension of Canadian and Mexican auto tariffs
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According to people familiar with the matter, the Trump administration is considering pushing tariffs on Canadian and Mexican cars a month later. Government officials met with heads of Ford Motor (F.N), General Motors (GM.N) and Stelantis (STLA.N) on Tuesday to discuss the matter. Another meeting on possible tariff cuts will be held at the White House on Wednesday. Major automakers in Detroit have been actively seeking to stop or modify Trump’s tariff policies, which they fear could have disastrous effects. Automakers and experts warn that imposing a 25% tariff on neighboring countries will lead to higher costs, almost immediately increasing car prices and causing supply chains to crumble.