💨 Abstract

President Trump is considering a 25% tariff on imports from Canada and Mexico, effective Feb 1. These countries account for about 28% of US imports in 2024, with a total value of $844 billion. The automobile industry is a significant importer, with $202 billion from Canada and Mexico combined. Japanese automakers like Toyota may benefit if tariffs are applied as they source many parts from Japan or US suppliers.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖