Because of trade war, some SUV production could move there from the U.S.
11th-hour deal creates USMCA, will replace NAFTA.
The CEO says if the trade war goes on, "there will be more damage."
Analysts predict 'bad news for consumers' and a 'downward cycle' for the industry.
It's based on Trump's proposed $12 billion aid package for farmers.
The markets feel reassured by data, reports.
Trade situation is shifting quickly
Trade concessions could mean an end to the dispute.
German automakers may be ready for EU to drop tariffs on U.S. cars
Our allies' view: "No leader is forever."
WASHINGTON/PARIS — Canada and Mexico retaliated against the U.S. government's decision on Thursday to impose tariffs on steel and aluminum imports, and the European Union had its own reprisals ready to go, reigniting investor fears of a global trade war. The tariffs, announced by U.S. Commerce Secretary Wilbur Ross in a telephone briefing on Thursday, ended months of uncertainty about potential exemptions and suggested a hardening of the Trump administration's approach to trade negotiatio
General Motors chief Mary Barra said today her company needs a level playing field on trade with other countries, with equivalent or no tariffs in order to successfully compete in a global auto industry. She made her comments during a "Talks at GS" conversation with Goldman Sachs Chairman and CEO Lloyd Blankfein that was carried by Yahoo Finance, a sister site to Autoblog.
German carmakers BMW and Daimler are under increasing pressure to diversify production of their sports utility vehicles (SUVs) outside of the United States as a result of Washington's growing trade tensions with China. Beijing's proposed 25 percent tax on U.S. car factory exports will hit nearly 270,000 vehicles, with German carmakers accounting for $7 billion of the $11 billion total.
U.S. steel and aluminum companies were pleased, however.
The U.S. goods trade deficit with South Korea has more than doubled since the U.S.-Korea free trade pact known as KORUS took effect in 2012.